If a Firm Manager Has a Base Salary of $50,000

question 58

Multiple Choice

If a firm manager has a base salary of $50,000 and also get two percent of all profits, how much will his/her income be if revenues are $8,000,000 and profits are $2,000,000?

• A)$250,000.
• B)$210,000.
• C)$90,000.
• D)$150,000.

---

Definitions:

Contributed Services

Services provided by volunteers or donated resources that are typically not paid for but are recorded in the financial statements if they create or enhance a nonfinancial asset or require specialized skills.

Permanent Endowment

A donation of money or property to a nonprofit organization, which uses the resulting investment income for a specific purpose.

Fundraising Activities

Efforts undertaken by an organization to generate voluntary financial contributions from individuals, businesses, charitable foundations, or governmental agencies.