Goods totaling $14,000 purchased February 2 on terms of 2/10, n/30 and on which returns of $2,000 were made on February 10 would be subject to which of the following discounts if paid for on February 12?
A) $240
B) $280
C) $320
D) $40
A
Business
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A firm operated at 80% of capacity for the past year, during which fixed costs were $330,000, variable costs were 70% of sales, and sales were $1,000,000. Operating profit was:
A) $140,000 B) ($30,000) C) $370,000 D) $670,000
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Answer the following statement true (T) or false (F)
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