During the Fiscal Year Ended 2014, a Company Had Revenues

question 112

Multiple Choice

During the fiscal year ended 2014, a company had revenues of $400,000, cost of goods sold of $280,000, and an income tax rate of 30 percent on income before income taxes. What was the company's 2014 net income?

• A) $120,000.
• B) $36,000.
• C)$84,000.
• D)$400,000.

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Definitions:

Prion

Infectious agents composed of protein in a misfolded form, which can cause rare, progressive neurodegenerative disorders by inducing abnormal folding of specific normal proteins in the brain.

Creutzfeldt-Jakob Disease

A rare, degenerative, invariably fatal brain disorder that affects about one in every one million people per year worldwide.

Bovine Spongiform Encephalopathy

A neurodegenerative disease in cattle that affects the brain and spinal cord, also known as Mad Cow Disease.

Gram-Positive Bacteria

Gram-positive bacteria are a group of bacteria that retain the Gram stain and appear purple under a microscope, often indicating a thicker peptidoglycan cell wall.