Suppose a Firm Manager Has a Base Salary of $75,000

question 130

Multiple Choice

Suppose a firm manager has a base salary of $75,000 and earns 1.5 percent of all profits.Determine the manager's income,if revenues are $10,000,000 and profits are $5,000,000.

• A) $75,000
• B) $150,000
• C) $225,000
• D) $300,000

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Definitions:

Working Capital

The gap between a business's present assets and liabilities, signifying its short-term financial stability and operational functionality.

Financial Data

Quantitative details about the financial status of a business or individual, including assets, liabilities, revenue, and expenses.

Sales On Account

Transactions in which goods or services are provided to a customer with an agreement to pay at a later date.

Sales On Account

Transactions where goods are sold and payment is deferred, creating an account receivable for the seller.