Which ratio is computed by dividing operating income by net sales?
A) gross profit percent
B) profit margin
C) return on sales
D) return on assets
Correct Answer:
Verified
Q116: Auditors compare client data with
A) industry data.
B)
Q117: Substantive analytical procedures performed in all phases
Q118: Analytical procedures performed during the planning phase
Q119: Which ratio do auditors find useful for
Q120: Which of the following ratios is not
Q122: Auditors use trends in the inventory turnover
Q123: The times interest ratio helps the auditor
Q124: To determine accounts receivable turnover, net sales
Q125: Which of the following best describes one
Q126: State the three phases of the audit
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