In a comparison with the previous year, a trader discovers that his gross profit margin has risen while his trade receivables turnover has fallen. Which statement would account for this?
- AHe bought in bulk and passed the savings on to his customers who bought more.
- BHe offered more trade discount and more customers paid in cash.
- CHe raised his selling price and offered more cash discounts.
- DHe reduced his selling price to increase the total value of sales.