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PART A Including non-GAAP metrics in a companys annual report is acceptable and may provide useful information for decision makers. True or False PART B
PART A
Including non-GAAP metrics in a companys annual report is acceptable and may provide useful information for decision makers.
True or False
PART B
Manero Company included the following information in its annual report:
20X3 | 20X2 | 20X1 | |||||||||
Sales | $ | 178,400 | $ | 162,500 | $ | 155,500 | |||||
Cost of goods sold | 115,000 | 102,500 | 100,000 | ||||||||
Operating expenses | 50,000 | 50,000 | 45,000 | ||||||||
Operating income | 13,400 | 10,000 | 10,500 | ||||||||
In comparison to year 20X2, the increase in operating income of 20X3 was primarily caused by the effect of margin increase of (ignore taxes):
Multiple Choice
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$3,400.
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$1,194.
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$2,422.
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$978.
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