During the Year, Grasso Ltd Sold 2000 Items at $30

question 30

Multiple Choice

During the year, Grasso Ltd sold 2000 items at $30 each. The cost price of the items was $22 each. Operating expenses totalled $7 000 and income tax expense was $5 000. What was the operating profit before tax of Grasso Ltd for the year?

• A) $4 000
• B) $9 000
• C) $16 000
• D) None of the above

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Definitions:

Developing Leaders

The process of enhancing an individual's ability to guide, influence, and motivate others to achieve organizational goals.

Functional Design

A design approach focused on creating products, systems, or structures based on their intended function or purpose.

Organization Identification

relates to the sense of belonging an individual feels towards their organization, influencing their attitudes and behaviors.

Narrow Tasks

Specific, well-defined assignments or responsibilities that require focused attention and are often part of a larger project or goal.