A Company Reported Revenues of $382,000, Cost of Goods Sold

question 133

Multiple Choice

A company reported revenues of $382,000, cost of goods sold of $125,000, selling expenses of $16,000, and total operating costs of $74,000. Gross margin for the year is ________.

• A) $257,000
• B) $241,000
• C) $167,000
• D) $292,000

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Definitions:

Internal Benchmarking

The process of comparing business processes and performance metrics to industry bests or best practices within the same organization.

Work Units

Small divisions or groups within an organization that focus on specific tasks or projects.

Contingency Planning

Planning that identifies alternative courses of action to take when things go wrong.

Trigger Points

Specific conditions or events that initiate a particular action, reaction, or series of events.