Revenue Increases by $200 and the Cost of Goods Sold

question 45

Multiple Choice

Revenue increases by $200 and the cost of goods sold is 78%.What dollar amount of extra taxes will be owed if the marginal tax rate is 35%?

• A)$70.00
• B)$44.00
• C)$54.60
• D)$15.40

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Definitions:

Structuralism

An early school of thought promoted by Wundt and Titchener; used introspection to reveal the structure of the human mind.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.

Pseudoscience

A collection of beliefs or practices mistakenly regarded as being based on scientific method but do not adhere to a valid scientific methodology.

Biological

Pertaining to the science of life or living matter in all its forms and phenomena, especially with reference to origin, growth, reproduction, structure, and behavior.