cion 34 Gross profit margin, page 83 gross profit divided by net assets. It is a ratio denoting the gross profit earned by the firm as a percentage of its assets et ered ed out of Select one: True lag question False stion 35 Changes in depreciation expense do not affect operating income because depreciation is a non- cash expense yet vered Select one: ked out of O True Flag question False n 36 The difference between the market value of the firm and the amount of laiabilitles in the firm is known as market value added. ed out of Select one: O True O False g