Select the most appropriate alternative from those given below and rewrite the sentences:
i. Gross Profit Ratio indicates the relationship of gross profit to the _________
(a) Net cash
(b) Net sales
(c) Net purchases
(d) Gross sales
ii. Current ratio = \(\frac{................}{Currentliabilities}\)
(a) Quick assets
(b) Quick liabilities
(c) Current assets
(d) None of these
iii. Liquid assets = ____________
(a) Current assets + Stock
(b) Current assets – Stock
(c) Current assets – Stock + Prepaid Expenses
(d) None of these
iv. Cost of goods sold = _________
(a) Sales – Gross profit
(b) Sales – Net profit
(c) Sales proceeds
(d) None of these
v. Net profit ratio is equal to ________
(a) Operating ratio
(b) Operating net profit ratio
(c) Gross profit ratio
(d) Current ratio