Orange Pty Ltd Develops and Sells Off-The-Shelf Accounting Software Packages

question 22

Multiple Choice

Orange Pty Ltd develops and sells off-the-shelf accounting software packages. The retail price of each package is $399 (GST inclusive) . Included with each purchase are "free" upgrades for a period of 12 months after the date of purchase. These upgrades can be purchased separately for $80 (GST inclusive) .
At the date of purchase of the software package by a customer, Orange should record revenue of:

• A) $290.00
• B) $319.00
• C) $362.72
• D) $399.00

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Definitions:

Labor-Market Discrimination

The unequal treatment of job applicants or workers based on race, gender, age, or other irrelevant characteristics which affects their opportunities and wages.

Wage Increase

An increase in the rate of pay for workers, which can occur due to economic growth, inflation, or increased demand for labor.

Monthly Workshops

Regularly scheduled events that focus on teaching or exploring specific topics or skills in depth.

Equilibrium Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded in a particular market.