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What is gross margin

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Problem ?1. Which of the following approaches for bad debts is best described as a balance sheet method?

a) Direct write off method

b) Financial statement method

c) Percentage of sales method

d) Aging of receivables method

e) Both a) and b)

Problem 2. The following figures are provided for Hanauma Marketing Corp. What is gross margin?

Sales revenue $960,000

Cost of goods sold 600,000

Sales discounts 40,000

Sales returns and allowances 30,000

Operating expenses 170,000

Interest revenue 10,000

a) $210,000

b) $280,000

c) $360,000

d) $290,000

e) $180,000

Reference no: EM132783977

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