Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / 1 QUESTION 2 The balance sheet is also known as: the statement of financial position the income statement the statement of cash flows the statement of comprehensive income 2 QUESTION 3 If sales revenue is $250,000 and cost of sales is $175,000; the gross profit margin is: 20% 70% 30% 12%
1
QUESTION 2 The balance sheet is also known as: the statement of financial position the income statement the statement of cash flows the statement of comprehensive income
2
QUESTION 3 If sales revenue is $250,000 and cost of sales is $175,000; the gross profit margin is: 20% 70% 30% 12%
1
The balance sheet is also known as the statement of the financial position as it will be representing various kinds of Assets and liabilities and strengths and weaknesses of a company at a certain point of time financially.
Balance sheet is not known as income statement or statement of comprehensive income or cash flows.
Correct answer is option (A) Statement of financial position.
2
Gross profit=(sales-cost of sales)/sales)*100
=(250000-175000)/250000)*100
Gross Profit Margin=30%
