Solve the Problem. -Matthew Has Two Different Stocks. One of the Stocks Is

question 73

Multiple Choice

Solve the problem.

-Matthew has two different stocks. One of the stocks is worth twice as much per share as the other. He has 14 shares of the more valuable stock and 27 shares of the other stock. His total assets in
Stocks is $2640. How much is the less expensive stock worth per share?

• A) $48 per share
• B) $92 per share
• C) $46 per share
• D) $53 per share

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Definitions:

Break-Even

The point at which total revenues equal total costs, resulting in neither profit nor loss.

Break-Even Point

The level of production or sales at which total revenues equal total expenses, resulting in neither profit nor loss.

Profit And Loss Statement

A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, usually a fiscal quarter or year.

Cost Volume Profit Analysis

A managerial accounting technique used to analyze how changes in cost and volume affect a company's operating income and net income.