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Which one of the following statements is correct? Multiple Choice Costs that vary directly with production are classified as operating expenses. Pretax income is equal
Which one of the following statements is correct? Multiple Choice Costs that vary directly with production are classified as operating expenses. Pretax income is equal to gross profit minus interest expense. Operating expenses are indirect costs. The change in retained earnings is equal to net income plus dividends paid. Gross profit is equal to sales minus costs of goods sold and depreciation. Sander's Corner Market had annual sales of $326,000 and total assets of $245,000. What is the return on assets if the profit margin is 9% ? Multiple Choice 11.98% 10.18% 11.51% 8.56% 9.88%
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