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While calculating Gross Profit ratio,

A. Closing stock is deducted from cost of goods sold

B. Closing stock is added to cost of goods sold

C. Closing stock is ignored

D. None of the above

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above