Assuming Net Sales Are $164,000, Cost of Goods Sold Is

question 70

Multiple Choice

Assuming Net Sales are $164,000, Cost of Goods Sold is $83,000, Selling Expenses are $23,000, and General Expenses are $24,000, then Net Income is

• A) $200,000.
• B) $80,000.
• C) $128,000.
• D) $34,000.
• E) $81,000.

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Definitions:

Warehouse

A large building where goods are stored before they are distributed to stores or customers.

Equipment

Tangible assets or physical items used in the operation of a business, such as machinery, tools, or computers.

Mutually Exclusive Projects

Projects involving investments where choosing one excludes the possibility of selecting another.

Discount Rate

The rate at which the Federal Reserve lends money to financial institutions through its discount window.