Division T Reported Income from Operations of $900,000 and Total

question 122

Multiple Choice

Division T reported income from operations of $900,000 and total service department charges of $575,000.Therefore:

• A)net income was $325,000.
• B)the gross profit margin was $325,000.
• C)income from operations before service department charges was $1,475,000.
• D)consolidated net income was $325,000.

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Definitions:

Interval

A range of values or numbers that includes an upper and lower boundary.

Binomial

A probability distribution that describes the number of successes in a fixed number of independent trials, with only two possible outcomes for each trial.

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of many types of data where most occurrences take place around the mean.

Standard Deviation

An indicator of the extent of variability or spread within a set of numbers, showing the degree to which these numbers deviate from the average value.