During the month, merchandise is sold for $80,500 cash and for $119,000 on account. The cost of goods sold is $101,500. What is the amount of gross profit?

a. $199,500

b. $119,000

c. $98,000

d. $80,500

Project risk is lowest during the: Finish phase of the project life cycle. Conceive phase of the project life cycle. Develop phase of the project life cycle. Execute phase of the project life cycle.

Park co. shipped inventory on consignment to recreations co. that cost $50,000. recreations paid $1,200 for advertising that was reimbursable from park. at the end of the year, 80% of the inventory was sold for $70,000.

When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner.

Mountain Made started the month with 3 quilts in its beginning inventory that cost $200 each. During the month, Mountain Made purchased 7 additional quilts for $210 each.

One reason that economists make assumptions when designing models is to:

ABC Company just started business in August. They made the following purchases during August: August 01 300 units $1,560 total cost August 12 400 units 2,340 total cost August 24 400 units 2,520 total cost August 30 300 units 1,980 total cost A

1. During the Middle Ages, courtly love was embodied in the behavior of a knight toward the fine lady he loved. He would prostrate himself before her, idealize her, carry her favor into battle, but never demonstrate physical love for her.

Northern Illinois Company expects to sell 36,000 units of finished goods over the next 6-month period. The company has 12,000 finished units on hand and its managers want to have 14,000 units on hand at the end of the period.

Sally's Sod Inc. provides lawn maintenance and has two different packages: Standard and Deluxe. Selected data related to each package is as follows: Standard Deluxe Contribution margin per package $40 $120 Direct labor hours per package 2 3 For the

The traditional business model of accounting is inadequate for governments and not-for-profit organizations primarily because businesses differ from governments and not-for-profit organizations in that