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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

1 Answer

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i. (b) Net sales

ii. (c) Current assets

iii. (b) Current assets – Stock

iv. (a) Sales – Gross profit

v. (a) Operating ratio

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