Assume the Following Cost of Goods Sold Data for a Company

question 188

Multiple Choice

Assume the following cost of goods sold data for a company: $$\begin{array} { l r } 2018 & \$ 1,400,000 \\2017 & 1,200,000 \\2016 & 1,000,000\end{array}$$ If 2016 is the base year, what is the percentage increase in cost of goods sold from 2016 to 2018?

• A)140%
• B)40%
• C)20%
• D)17%

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Definitions:

Lipid

A group of naturally occurring molecules that includes fats, waxes, sterols, fat-soluble vitamins (such as vitamins A, D, E, and K), monoglycerides, diglycerides, triglycerides, phospholipids, and others.

Nucleic Acid

A complex organic substance present in living cells, especially DNA or RNA, whose molecules consist of many nucleotides linked in a long chain, fundamental for the transmission of genetic information.

Protein

Large molecules composed of one or more long chains of amino acids, essential for the structure, function, and regulation of the body's cells, tissues, and organs.

Cyclic AMP

Cyclic AMP (cAMP) is a second messenger important in many biological processes, including the regulation of metabolism, gene transcription, and cell signaling.