A Company Has Net Sales of $825,000 and Cost of Goods

question 54

Multiple Choice

A company has net sales of $825,000 and cost of goods sold of $547,000.Its net income is $98,500.The company's gross margin and operating expenses,respectively,are:

• A)$209,000 and $191,470
• B)$278,000 and $179,500
• C)$278,000 and $98,500
• D)$179,500 and $98,500
• E)$645,500 and $179,500

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Definitions:

Abstract Reasoning

The ability to analyze information, detect patterns and relationships, and solve problems on a complex, intangible level.

Formal Operations

The final stage in Piaget's theory of cognitive development, characterized by the ability to think abstractly and logically.

Cognitive Development

The process by which individuals acquire and understand knowledge, develop problem-solving skills, and mature intellectually through various stages of life.

Sociocultural Influences

The impact of societal and cultural factors on individual behaviors, beliefs, and attitudes.