The Following Income Statement Was Produced When Volume of Sales

question 50

Multiple Choice

The following income statement was produced when volume of sales was at 400 units. $$\begin{array} { | l | l r | } \hline \text { Sales Revenue } & \$ & 2,000 \\\hline \text { Variable Cost } & & 1,200 \\\hline \text { Contribution Margin } & \$ & 800 \\\hline \text { Fixed Cost } & & 300 \\\hline \text { Net Income } & \$ & 500 \\\hline\end{array}$$ If volume reaches 500 units, net income will be:

• A) $625
• B) $1,800
• C) $700
• D) None of these

Comprehend the procedures and outcomes of mortgage default, including foreclosure and the options available to mortgagees.

Distinguish between legal and equitable mortgages and understand their enforcement.

Explain the significance of mortgage registration and its impact on priority disputes.

Recognize the mortgagor’s covenants and the mortgagee's remedies in case of default.

---

Definitions:

Hyaline Cartilage

Cartilage whose cells lie in lacunae separated by a white translucent matrix containing very fine collagen fibers.

Marrow

A soft fatty substance in the cavities of bones, where blood cells are produced.

Periosteum

Fibrous connective tissue that covers the surface of a long bone; contains blood vessels that service the cells within the bone.

Ligaments

Strong, flexible bands of connective tissue that connect bones to other bones at joints.