The Gross Profits for January at Tower Center for the Five

question 1

Multiple Choice

The gross profits for January at Tower Center for the five departments were: Appliance Department, $20,000
Automotive Department, $10,000
Clothing Department, $55,000
Grocery Department, $260,000
Nursery Department, $15,000
Find the percentages of the total earned by each department. Then, change each of the percentages to degrees.

• A) Appliances: 10 degrees Automotive: 20 degrees
• Clothing: 55 degrees
• Grocery: 260 degrees
• Nursery: 15 degrees
• B) Appliances: 20 degrees Automotive: 10 degrees
• Clothing: 55 degrees
• Grocery: 15 degrees
• Nursery: 260 degrees
• C) Appliances: 2,000 degrees Automotive: 1,000 degrees
• Clothing: 5,500 degrees
• Grocery: 26,000 degrees
• Nursery: 1,500 degrees
• D) Appliances: 20,000 degrees Automotive: 10,000 degrees
• Clothing: 55,000 degrees
• Grocery: 260,000 degrees
• Nursery: 15,000 degrees
• E) Appliances: 20 degrees Automotive: 10 degrees
• Clothing: 55 degrees
• Grocery: 260 degrees
• Nursery: 15 degrees

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Definitions:

Long Term Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, like buildings and machinery.

Condensed Balance Sheets

Simplified financial statements presenting only the most essential information about a company's financial position.

Fixed Assets

Long-term tangible assets used in the operation of a business that are not likely to be converted to cash within one year.

Capital Expenditures

Financial resources dedicated by a corporation towards the acquisition, betterment, and maintenance of real assets, like real estate, industrial plants, or machinery.