Marino, Inc

question 12

Multiple Choice

Marino, Inc. makes a sale and collects a total of $378, which includes an 8 percent sales tax. The amount credited to Sales Revenue is

• A) $378
• B) $348
• C) $400
• D) $350

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Definitions:

Resource-Owners' Money Income

The income generated by individuals or entities from renting or providing their owned resources, such as land, labor, or capital, to others for use.

Costs to Business

All expenses incurred by a business in the process of producing goods or services, including both fixed and variable costs.

Distribution of Output

The way in which the total goods and services produced by an economy are allocated or distributed among its population.

Interest Income

The earnings received from investments in vehicles such as savings accounts, certificates of deposit, or bonds, typically presented as a percentage of the investment's total value.