A Company Has Net Sales of $825,000 and Cost of Goods

question 90

Multiple Choice

A company has net sales of $825,000 and cost of goods sold of $547,000. Its net income is $98,500. The company's gross margin and operating expenses, respectively, are:

• A) $179,500 and $98,500
• B) $645,500 and $179,500
• C) $209,000 and $191,470
• D) $278,000 and $98,500
• E) $278,000 and $179,500

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Definitions:

Altered Check

A check on which information has been modified or forged, such as the payee's name or the amount, without the account holder's authorization.

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Refers to a hypothetical or specific art gallery that presents and promotes artworks reflecting particular cultural values and ideals.

Notice of Dishonor

A formal notification given to parties involved that a negotiable instrument, like a check, has been dishonored or refused for payment.

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A term often used to refer to the largest banks in a particular region or country, which have a significant impact on the overall banking and financial system.