The Price of Gold Was $1061 Per Ounce on December

question 16

Multiple Choice

The price of gold was $1061 per ounce on December 31 and has risen 14.78 percent since that time. What is the price per ounce now?

• A) $1218.
• B) $156.82.
• C) $1076.
• D) $62.

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Definitions:

Break-even Sales

The amount of revenue needed to cover both fixed and variable costs, resulting in no profit or loss.

Variable Cost

Costs that change in proportion to the level of goods or services produced, such as materials and labor directly involved in production.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, indicating the degree to which a company can increase profits by increasing sales.

Break-even Sales

The amount of revenue needed to cover both the variable and fixed costs of a business, resulting in zero profit or loss.