During the Fiscal Year Ended 2010,a Company Had Revenues of $400,000,expenses

question 20

Multiple Choice

During the fiscal year ended 2010,a company had revenues of $400,000,expenses of $280,000,and an income tax rate of 30 percent.What was the company's 2010 net income?

• A)$120,000
• B)$36,000
• C)$84,000
• D)$400,000

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Definitions:

New Spain

Refers to a territorial entity of the Spanish Empire in North America, Central America, Asia, and Oceania, from the 16th to the 19th century.

Free Black Communities

Historical communities formed by African Americans who were free from slavery, often before the Civil War, creating their own cultural, economic, and social institutions.

Gold and Silver Mines

Sites or locations where gold and silver ore are extracted from the earth, historically significant for their economic value and impact on regional development.