State true or false with reasons.Gross profit depends upon net sales.

1.	State true or false with reasons.Gross profit depends upon net sales.
Answer» This statement is True. The gross profit ratio discloses the relation between gross profit and total net sales. The gross profit ratio is an income-based ratio, where gross profit is an income. There is a direct relation between net sales and gross profit. Higher the net sales higher the gross profit.

Answer»

This statement is True.

The gross profit ratio discloses the relation between gross profit and total net sales. The gross profit ratio is an income-based ratio, where gross profit is an income. There is a direct relation between net sales and gross profit. Higher the net sales higher the gross profit.

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State true or false with reasons.Gross profit depends upon net sales.

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