Jilk Inc.'s contribution margin ratio is 61% and its fixed monthly expenses are $50,000. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $142,000?
A. $36,620
B. $5380
C. $92,000
D. $86,620
Answer: A
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In what way are stock rights generally different from stock warrants?
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Genity Corporation records business transactions in dollars and disregards changes in the value of a dollar over time. Which of the following accounting assumptions does this represent?
A) economic entity assumption B) going concern assumption C) accounting period assumption D) monetary unit assumption
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Indicate whether the statement is true or false
Reviewing computer screens, reports, and business forms for the purpose of gaining an understanding of data is indicative of the:
A) investigative approach. B) business approach. C) bottom-up approach. D) top-down approach. E) conceptual approach.