Answer the Following Questions Using the Information Below

question 174

Multiple Choice

Answer the following questions using the information below:
Tally Corp. sells softwares during the recruiting seasons. During the current year, 11,000 softwares were sold resulting in $440,000 of sales revenue, $110,000 of variable costs, and $48,000 of fixed costs.
-Contribution margin per software is ________.

• A) $10.00
• B) $30.00
• C) $40.00
• D) $36.00

Grasp fundamental financial ratios and their applications in financial analysis (e.g., debt-to-equity ratio, current ratio).

Recognize the factors influencing a private company's decision to report under IFRS in Canada.

Distinguish between the financial reporting choices available to private enterprises in Canada.

Understand the assumptions underlying accounting principles such as the Historical Cost Principle.