Jared Analyzed the Income Statement for His Independent Label and Found

question 23

Multiple Choice

Jared analyzed the income statement for his independent label and found that for every dollar of sales, 30 cents were spent on cost of goods sold. The gross profit per dollar was 70 cents. If 20 cents were spent on operating costs and 10 cents on taxes, what is the net profit per dollar?

• A) 60 cents
• B) 40 cents
• C) 30 cents
• D) 20 cents

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Definitions:

Achievable Goals

Objectives that can realistically be accomplished within a given timeframe and with available resources.

McGregor

Douglas McGregor, an American social psychologist who proposed the Theory X and Theory Y concepts of employee motivation and management.

Theory Y

A management concept based on the belief that employees are intrinsically motivated to work and can be trusted with responsibility and autonomy.

Participative Management

A management style that encourages the involvement and contribution of all employees in decision-making processes.