The Following Information Pertains to Bright Toy Company's Operating Activities

question 74

Multiple Choice

The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012. What is the operating income for 2012?

• A)$250,000
• B)$140,000
• C)$30,000
• D)$90,000

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Definitions:

Duty of Loyalty

An obligation of fiduciaries to act in the best interest of the beneficiary or entity they serve, avoiding conflicts of interest.

Specific Performance

An order of the court requiring that a nonbreaching party fulfill the terms of the contract.

Non-Contractual Relationships

Interactions between parties that are not governed by a formal written or spoken contract, but still may involve legal obligations.

Duty of Obedience

is the responsibility of the directors and officers of a corporation to act in accordance with the corporation's charter, bylaws, and the law in decision-making processes.