Which specific item of a pro forma income statement should be most expected to vary proportionately with sales? Why?

How is the profit margin on sales calculated?

How can an investor or lender use the Gross Profit Margin Ratio to make financial contribution decisions?

What is the effect on the current period income statement and the balance sheet when inventories are written down using the lower of cost or market method? What is the effect on future period income statements and balance sheets?

Which of the following is not an element of the financial statements? A. future potential sales price of inventory B. assets C. liabilities D. equity

What is the standard income statement equation?

which of the following comes first in the income statement O a. finance cost O b. gross profit O C. C. cost of sales O d. distribution cost

Which of the following is not a component of Net Sales?a. Sales Returns and Allowancesb. Sales Discountsc. Cost of Goods Soldd. Sales Revenue

Which of the following is NOT a profitability ratio? Select one:a. Return on Equityb. Net Profit Marginc. Return on Assetsd. Average Collection Period

P/V Ratio is an indicator of [A] the rate at which goods are sold [B] the volume of sales [C] the volume of profit [D] the rate of profit