Celestial Navigation Is a Store for People Who Collect Nautical

question 54

Multiple Choice

Celestial Navigation is a store for people who collect nautical items and use them to decorate their homes. Last year its net sales totalled $120,500. The value of the items it sold was $72,300. Taxes for the year ran $7,680. The only expenses that the operation has are (1) licenses for $300, (2) salaries to the owner and one part-time assistant for
$27,000, (3) administrative expenses of $500, and (4) utilities at $1,200. Calculate the net profit margin for Celestial Navigation.

• A) 60.2 percent
• B) 23.9 percent
• C) 40 percent
• D) 9.6 percent
• E) Cannot be determined from the information provided

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Definitions:

Programs

Instructions written in a programming language that a computer or device executes to perform specific tasks.

Task

A specific piece of work or operation to be performed, often part of a larger process or system functionality.

Priority Task

A task given preferential execution over other tasks in a computing environment, based on urgency or importance.

Periodic

The term periodic refers to events or phenomena that occur at regular intervals, characteristic of cyclic or repeating patterns over time.