Financial Information Is Presented Below: Operating Expenses $ 60,000

question 195

Multiple Choice

Financial information is presented below: Operating Expenses $ 60,000
Sales Revenue 225,000
Cost of Goods Sold 135,000
Gross profit would be

• A) $30,000.
• B) $90,000.
• C) $165,000.
• D) $225,000.

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Definitions:

Average Tax Rate

The portion of total income that is paid as tax, calculated by dividing the total tax amount by the taxable income.

Tax Base

The total amount of assets or revenue that a government can tax to fund its operations and services.

Sectors

Distinct parts or areas within an economy, characterized by a specific kind of activity, such as the agricultural, manufacturing, or service sector.