## Answers

**Return on sales equals gross profit divided by sales.**

The given statement is false. Since gross profit divided by sales represent Gross profit ratio. Return on sales can be calculated by dividing net income by net sales.

**Amount due from customers are called accounts payable**

The given statement is false. The amount due from customers are called Accounts receivables.

**Retained earnings indicate the amount of cash available for distribution to shareholders.**

The given statement is false. Retained earnings indicate the amount of profit available for distribution to shareholders, thus retained earnings is not same as cash.

*Kindly comment if you need further assistance.*

*Thanks‼!*

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