As the legal owners, ________ have the most legitimate claim on a company's profits.
A. board members
B. employees
C. creditors
D. shareholders
Answer: D
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Calculate the percent gross profit for a company if the sales revenue generated is $200 million, and the firm sells 60 products that cost $2 million each to produce
A) 20% B) 40% C) 50% D) 60% E) 80%
The determination of the balance sheet cost of merchandise inventory is not important to the determination of net income
Indicate whether the statement is true or false
According to the three-needs theory, the need for ________ is the desire for friendly and close interpersonal relationships.
A. control B. affiliation C. power D. achievement
Select the incorrect statement regarding the relationship between cost behavior and profits.
A. A pure fixed cost structure offers more security if volume expectations are not achieved. B. In a pure fixed cost structure, the unit selling price and unit contribution margin are equal. C. A pure variable cost structure offers higher potential rewards. D. In a pure variable cost structure, when revenue increases by $1, so do profits.