Which of the Following Statements Is Correct

Which of the following statements is correct?

A) When cost of goods sold as a percentage of sales increases,the gross profit percentage will increase.
B) It is possible that when cost of goods sold in dollars increases,cost of goods sold as a percentage of sales decreases.
C) If gross profit percentage is the same for the current and past year,then sales and cost of goods sold in dollars did not change.
D) If gross profit percentage increases from one year to the next,then the net income percentage will also increase from one year to the next.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free