The formula for calculating the net income ratio is
A) net income divided by total sales.
B) total sales divided by total expenses.
C) total sales minus total expenses divided by net income.
D) none of these.
Correct Answer:
Verified
Q16: Information needed to prepare an income statement's
Q17: When cash is paid for insurance,
A) Prepaid
Q18: The first digit in the account number
Q19: The journal entry to close Income Summary
Q20: Asset accounts include Cash, Prepaid Insurance, and
A)
Q22: Reporting changes in financial information for a
Q23: The normal balance side of any expense
Q24: Select the one term that best fits
Q25: Select the one term that best fits
Q26: Select the one term that best fits
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