During 2019, Beta Ltd Incurred Expenses of $25 000 and Earned

question 29

Multiple Choice

During 2019, Beta Ltd incurred expenses of $25 000 and earned a net profit of $5 000. Retained profits at 1 January 2019 stood at $7 000, and dividends declared and paid totalled $3 000. What were the revenues of Beta Ltd during 2019?

• A) $20 000
• B) $25 000
• C) $30 000
• D) $33 000

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Definitions:

Spreadsheet

A digital document that allows users to organize, analyze, and store data in a table with rows and columns.

Linear Function

A mathematical function that produces a graph of a straight line and is defined by an equation of the first degree.

Polynomial Function

A mathematical expression consisting of variables, coefficients, and non-negative integer exponents, summed together.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.