Which of the following statements regarding gross profit percentage is not true?
A) It is possible for a company to increase both its gross profit percentage and net income without increasing the dollar amount of sales.
B) A rising gross profit percentage indicates management's inability to control production and inventory costs.
C) The gross profit percentage can be used to determine if a company is making enough on each sale to cover its operating expenses.
D) Gross profit percentages vary across industries.
Correct Answer:
Verified
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