Your T-Shirt Operation Is Doing a Booming Trade

question 92

Multiple Choice

Your T-shirt operation is doing a booming trade. Last week you sold 60 tie-dyed shirts for $17 each, 75 Suburban State University crew shirts for $8 each, and 30 lacrosse T-shirts for $11 each. Use matrix operations to calculate your total revenue for the week. ​

• A)$1,940
• B) $1,945
• C) $1,965
• D) $1,920
• E) $1,950

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Definitions:

Return On Total Assets

A measure of the profitability of assets, without regard to the equity of creditors and stockholders in the assets.

Sales

The transactions involving the exchange of goods or services for money, representing a critical source of revenue for businesses.

Balance Sheet

A summary that provides information on a corporation's current assets, outstanding debts, and shareholder equity at a distinct time.

Sarbanes-Oxley Act

A federal law established in 2002 aimed at improving corporate governance and financial reporting to protect investors from fraudulent practices by corporations.