Last Year,MacTeck Enterprises Had Total Revenues of $34 Million While

question 27

Multiple Choice

Last year,MacTeck Enterprises had total revenues of $34 million while its total expenses were $22 million.Based on this information,MacTeck:

• A) earned a profit of $12 million.
• B) earned a profit of $56 million.
• C) suffered a loss of $12 million.
• D) suffered a loss of $22 million.

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Definitions:

Revocation

The act of officially withdrawing, cancelling, or reversing a decision, offer, or statement.

Counteroffer

A response to an original offer which modifies conditions or proposes new terms, effectively rejecting the initial offer and becoming a new proposal in the negotiation process.

Lapse Of Time

The expiration of a specified duration, after which legal claims may be void or rights may expire.

Valid Offer

A proposal made by one party to another intended to create a legally binding agreement when accepted.