Use the Following Performance Report for a Profit Center of Portia

question 56

Multiple Choice

Use the following performance report for a profit center of Portia Corporation for the month ended December 31 to answer the questions below.
Using the information provided for Portia Corporation,what was the actual profit center income?

• A)$10
• B)$6
• C)$4
• D)$54

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Definitions:

Picketing

Occurs when workers representing the union march at the entrance to the employer’s facility with signs explaining their reasons for striking.

Price Floor

A government- or authority-imposed price control or limit on how low a price can be charged for a product.

Effective Price Floor

A government-imposed price control above the equilibrium price, intended to ensure producers receive a minimum price higher than what the market would naturally dictate.

Surplus

A scenario in which the supply of a particular good or service surpasses its demand at the existing market price.