Colin Owns 100 Shares of RIM Stock

question 119

Multiple Choice

Colin owns 100 shares of RIM stock.He purchased the stock for $100 a share.He sold the stock for $75 a share.The commissions required to buy and sell the stock totaled $60.Assuming that he received no dividends during the time he owned the stock, what is his total profit or loss from this transaction?

• A)Profit $2,500
• B)Profit $60.00
• C)Loss $2,500
• D)Loss $2,560
• E)Loss $2,440

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Definitions:

Quotas

Limits set by governments on the amount of a specific good that can be imported or exported during a given time frame, often used as a way to regulate international trade.

Domestic Industries

Industries that produce goods and services within a country's borders for local consumption.

Prevent Dumping

Strategies or policies implemented to protect a country's domestic industry by limiting the importation of cheaply priced foreign goods.

Foreign Licensing

A business practice where a company allows another business in a different country to produce and sell its products under its brand.