The profit that a company generates when considering only the sales price and the cost of the product sold is called ________
a. operating profit
b. gross profit
c. income before taxes
d. net income
b
You might also like to view...
Winkler Company borrows $87,000 and pledges its receivables as security. The journal entry to record this transaction would be:
A. Debit Note Receivable $87,000 and credit Accounts Receivable $87,000. B. Debit Cash $87,000 and credit Notes Payable $87,000. C. Debit Cash of $87,000 and credit Accounts Payable $87,000. D. Debit Cash of $87,000 and credit Accounts Receivable $87,000. E. Debit Accounts Receivable $87,000 and credit Notes Payable $87,000.
Calculate the amount to be paid by the insurance company for the claim. Replacement Amount of Loss Value of Face Value Coinsurance Amount Insurance Co. Building of Policy Clause of Loss Will Pay $100,000 $90,000 90% $1,000
What will be an ideal response?
Which of the following is true about a majority decision reached by the U.S. Supreme Court?
A) All the judges agree as to the outcome and reasoning used to decide a case. B) A majority of the judges agree as to the outcome but not the reasoning used to decide a case. C) A majority of the justices agree as to the outcome and reasoning used to decide a case. D) An equal number of judges vote for and against the petitioner and the case remains undecided.
A sunk cost is never relevant
Indicate whether the statement is true or false