Katz Group Had the Following Income Statement for the Month

question 112

Multiple Choice

Katz Group had the following income statement for the month of May.
$\begin{array}{l}\text { Sales revenue } &&\$428,000\\\text { Cost of goods sold } &&205,440\\\text { Gross margin }&&222,560\\\text { Less: }\\&\text { Selling expenses }&81,320\\&\text { Administrative expenses }&72,760\\\text { Operating income }&&\$68,480\end{array}$
-Refer to the Figure.What was the administrative expense percentage?

• A)15%
• B)16%
• C)17%
• D)19%

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Definitions:

Implicit Leadership Theory

The concept suggesting that people have ingrained beliefs and assumptions about the attributes and behaviors that make an effective leader.

Sensitivity

The quality of being responsive or susceptible to changes or the feelings of others; in a business context, it can relate to understanding market needs or team dynamics.

Tyranny

A form of government where power is held by a single ruler who often exercises authority in a cruel or oppressive manner.

Leadership

The act of guiding or directing a group towards achieving shared goals, often involving strategic decision-making, inspiring others, and fostering a supportive environment.