For Its Most Recent Fiscal Year,a Firm Reported That Its

question 68

Multiple Choice

For its most recent fiscal year,a firm reported that its contribution margin was equal to 40 percent of sales and that its net income amounted to 10 percent of sales.If its fixed costs for the year were $60,000,how much were sales?

• A)$150,000
• B)$200,000
• C)$600,000
• D)can't be determined from the information given

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Definitions:

Venture Capital

That part of household savings used to finance high-risk business enterprises in exchange for stock (and thus a share of any profit if the enterprises are successful).

Green-card Holders

Individuals who possess a United States Permanent Resident Card, authorizing them to live and work in the U.S. permanently.

Undocumented Workers

Individuals who are employed without legal authorization in a country, often lacking the necessary documentation or permits.

Highly Skilled

Refers to workers who have obtained a high level of training, expertise, or experience in their respective fields.