The following data is from the income statement of Ralston Company: Revenue$5000? Cost of goods sold (2850)? Operating expenses (800)? Net income$1350? What is the company's gross margin percentage? (Round your answers to three decimal places.):
A. 43.000%
B. 57.000%
C. 62.790%
D. 27.000%
Answer: A
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Indicate whether the statement is true or false
What is not an example of an unexpected or incongruous focal object, in relation to the factors that influence perception?
A. valuing work ethic like never missing a day of work B. someone who is very vocal in an otherwise quiet meeting C. a beat up old Chevy truck at the country club D. wearing a lot of makeup and false eyelashes to the gym
Tower Company owns 85% of Hill Company. The two companies engaged in several intra-entity transactions. There were no excess fair-value amortization amounts to account for. Each company's income before income tax and dividend income for the current time period follow, as well as the effects of intra-entity gross profits on remaining inventory which are included in the separate net income amounts. No income tax accruals have been recognized within these totals. The tax rate for each company is 30%. Tower CompanyHill CompanySeparate income before income tax (excluding equity or dividend income from Hill)$200,000$80,000Intra-entity gross profit on remaining inventory (included in income above)25,00010,000Dividend income from Hill10,200 Dividends declared15,00012,000?Using the percentage
allocation method for assigning income tax expense, the income tax expense assigned to Hill is closest to: A. $0. B. $21,000. C. $17,400. D. $24,000. E. $20,400.
The best advice for preparing a formal business report is to ________
A) collect data and write the report at the same time B) proofread the final copy three times C) complete the hardest sections first to gain a sense of accomplishment D) use the same verb tense throughout the report for consistency