Assume Net Sales Are $225,000, Cost of Goods Sold Is

question 96

Multiple Choice

Assume Net Sales are $225,000, Cost of Goods Sold is $75,000, Selling Expenses are $24,000 and General Expenses are $30,000. Calculate Net Income:

• A) $150,000
• B) $126,000
• C) $246,000
• D) $96,000

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Definitions:

Social Responsibility

The obligation of a business to contribute to society in a beneficial manner, beyond its own interests and legal requirements.

Business Profits

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with sustaining the business operations.

Business Purpose

Business purpose is the fundamental reason for an organization's existence, beyond just making a profit, often reflecting its values, mission, and the needs it seeks to fulfill.