Chantal Company Began Operations on January 2,2014,and Appropriately Used the Installment

question 6

Multiple Choice

Chantal Company began operations on January 2,2014,and appropriately used the installment sales method of accounting.The following data are available for 2014 and 2015:

The realized gross profit for 2015 is

• A)$1,440,000.
• B)$1,040,000.
• C)$920,000.
• D)$780,000.

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Definitions:

Dependent Variable

A variable in statistical modeling or experimental design that is expected to change as a result of manipulations to the independent variable.

Slope

In mathematics, the slope describes the steepness, incline, or grade of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.

Intercept

The point on a graph where a line or curve crosses an axis, often used to determine where a function or equation equals zero.

Least-Squares Regression

A statistical method to determine a line of best fit by minimizing the sum of squares of the distances of data points from the proposed line.