Which of the following statements regarding gross profit is correct?
A) A reduction in gross profit margin will positively affect net profit margin.
B) Gross profit is calculated as revenue less variable expenses.
C) Gross profit is calculated as revenue less direct costs.
D) Any change in the gross profit margin can have a significant effect on the net profit margin.
E) A decline in total sales will reduce the gross profit margin.
Correct Answer:
Verified
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