Write the Word or Phrase That Best Completes Each Statement

question 307

Multiple Choice

Write the word or phrase that best completes each statement or answers the question.
-The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. They canproduce up to 24 rings each day using up to 60 total man-hours of labor. It takes 3 man-hours to makeone VIP ring and 2 man-hours to make one SST ring. How many of each type of ring should be madedaily to maximize the companyʹs profit, if the profit on a VIP ring is $40 and on an SST ring is $35?

• A)12 VIP and 12 SST
• B)14 VIP and 10 SST
• C)16 VIP and 8 SST
• D)18 VIP and 6 SST

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Definitions:

Financing Activities

Transactions related to raising funds or capital for a company, including issuing debt and equity.

Investing Activities

Deals related to buying and selling long-term assets and different investments, excluding cash equivalents.

Long-Term Investments

Investments made with the intention to hold for more than a year, including stocks, bonds, or real estate, aimed at achieving higher returns over time.

Investing Activities

Financial transactions related to the purchase and sale of long-term assets and investments in other firms.