Assume the Following Sales Data for a Company $$\begin{array} { l r } 2018 & \$ 960,000 \\2017 & 750,000 \\2016 & 600,000\end{array}$$

question 84

Multiple Choice

Assume the following sales data for a company: $$\begin{array} { l r } 2018 & \$ 960,000 \\2017 & 750,000 \\2016 & 600,000\end{array}$$ If 2016 is the base year, what is the percentage increase in sales from 2016 to 2017?

• A) 60%
• B) 25%
• C) 125%
• D) 160%

---

Definitions:

Valuation Method

The approach used to assess the value of an asset, liability, or a business, which can be based on market, income, or cost factors.

Financial Statements

Reports that provide an overview of a company's financial condition, including balance sheets, income statements, and statements of cash flows.

Recognized

Refers to the formal acknowledgment in financial accounting of particular transactions and events in the financial statements.

Definition Of An Element

In accounting, an element refers to the essential categories into which all financial transactions can be classified, such as assets, liabilities, equity, revenue, and expenses.