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Questions Bank (1540124 total)
Gross Profit / _________ = Gross Profit Margin
This is listed with cost of goods sold if the expense associated with the fixed asset is used in the direct production of inventory.
These obligations of the business are due within one year.
A written report of the financial condition of a firm.
_________ results when a company purchases a fixed asset and expenses it over the entire period of its planned use, not just in the year purchased.
These expenses go up or down based on the sales you make such as advertising, delivery charges and electricity if you are manufacturing.
Read the text. Choose from choices the one which best fits each space (1-5). There are two choices you do not need to choose..Coincidences can happen to _____(1), but some people experience more coincidences than other people. One such person was Wilmer McLean from the USA, who lived from 1814 until 1882. In 1861, Mclean was living on a farm in Manassas in the state _____(2). At that time, people who lived in the north of the USA were fighting those who lived _____(3). Unluckily for McLean, one battle happened _____(4). McLean and his family were not hurt, but the fighting damaged his house. So McLean decided______(5).
(Selling Price - Cost to Produce) / Cost to Produce = _________.
This is where you track any raw materials or finished goods that you buy for your business.