A Company Reported Revenues of $377,000, Cost of Goods Sold

question 199

Multiple Choice

A company reported revenues of $377,000, cost of goods sold of $122,000, selling expenses of $12,000, and total operating costs of $72,000. Gross margin for the year is ________.

• A) $255,000
• B) $243,000
• C) $171,000
• D) $293,000

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Definitions:

Slavery

A system in which individuals are owned by others, deprived of personal freedom, and forced to perform labor or services without compensation.

War Powers

The legal and political authority granted to a country's government to conduct and manage military operations and declare war.

Slave Power

A term used before the Civil War describing the perceived political and economic control that slaveholding states had over the U.S. federal government.