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Given below are two statements one labelled as Assertion (A) and...

This question belongs to Commerce Accounting
Accounting
?

Given below are two statements, one labelled as Assertion (A) and the other as Reason (R)
Assertion (A): Gross profit ratio is calculated on the basis of net sales.
Reason (R): Gross profit ratio measure overall profitability of a concern.
Choose the correct answer:

Answer & Solution
Correct Answer: Option C
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