The Soft Company Has Provided the Following Information

question 16

Multiple Choice

The Soft Company has provided the following information:
Allowance for doubtful accounts increased $19,000 and accounts receivable increased $390,000 during the year.
Accounts written off as uncollectible totaled $20,000.
Net sales totaled $2,700,000.
The gross profit percentage was 40%.
Sales discounts were $100,000.
How much was Soft's gross profit?

• A)$1,040,000
• B)$1,072,400
• C)$1,032,400
• D)$1,080,000

Understand different retail settings and their characteristics.

Identify and describe the various types of off-price retailers and their operational models.

Recognize the factors that contribute to a retail store's image and how it can impact customer perception.

Comprehend the strategies behind retail location decisions.

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Definitions:

Pie Chart

A graphical representation of data in the form of a circle divided into sectors, where each sector's angle and area proportionally represent a category's contribution to the total.

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two variables on a scatterplot.

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together.

Engine Size

A measure of the volume of the combustion chambers in a vehicle's engine, typically expressed in liters or cubic centimeters, often linked to the power output.