A Company's Sales in Year 1 Were $250,000 and in Year

question 49

Multiple Choice

A company's sales in Year 1 were $250,000 and in Year 2 were $287,500.Using Year 1 as the base year,the percent change for Year 2 compared to the base year is:

• A)87%.
• B)100%.
• C)115%.
• D)15%.
• E)13%.

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Definitions:

Profits and Losses

Financial results of a company's operations, with profits indicating net income and losses indicating net expenses exceeding revenues.

Admitted

The term is commonly used in insurance, indicating an insurer is licensed to operate in a particular state. Otherwise, NO.

Liquidate a Partnership

The process of dissolving a partnership by selling its assets, paying off debts, and distributing the remaining assets to partners.

Capital

represents the financial resources that are used by a business to fund its operations and growth, typically including funds contributed by owners or generated through profit.