If sales and expenses both rise by P100,000, profit margin will decrease and asset turnover will decrease. increase and asset turnover will decrease. decrease and asset turnover will increase. increase and asset turnover will increase.

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If sales and expenses both rise by P100,000, profit margin will decrease and asset turnover will decrease

Finance Mar 15, 2021

If sales and expenses both rise by P100,000, profit margin will

1. decrease and asset turnover will decrease.
2. increase and asset turnover will decrease.
3. decrease and asset turnover will increase.
4. increase and asset turnover will increase.

Expert Solution

Answer: c . decrease and asset turnover will increase .

The income statements reports the income earned and expenses incurred during a period of time and the resultant of income statement is net profit .

Net income is reported at the very bottom of the income statement.

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