Gross profit is the A. Amount of money you get for profit lab. B. Amount of money collected from selling products. C. Amount of money your product costs to produce. D. Has nothing to do with money.

Gross profit is the
A. Amount of money you get for profit lab.
 B. Amount of money collected from selling products.
 C. Amount of money your product costs to produce.
 D. Has nothing to do with money.
by

1 Answer

Answer :

A. Amount of money you get for profit lab.
by

Related questions

Net profit is the: A. Amount of money you get for profit lab. B. Amount of money collected from selling products. C. Amount of money your product costs to produce. D. Has nothing to do with money.

Description : Net profit is the: A. Amount of money you get for profit lab. B. Amount of money collected from selling products. C. Amount of money your product costs to produce. D. Has nothing to do with money.

Last Answer : B. Amount of money collected from selling products.

To figure the Gross Profit: A. Add up the ticket sales from selling day. B. Add up the ticket sales from selling day and subtract the cost of the ingredients. C. Add up cost to produce the product and subtract the total sales. D. Add the cost to produce the product and add the total sales.

Description : To figure the Gross Profit: A. Add up the ticket sales from selling day. B. Add up the ticket sales from selling day and subtract the cost of the ingredients. C. Add up cost to produce the product and subtract the total sales. D. Add the cost to produce the product and add the total sales.

Last Answer : B. Add up the ticket sales from selling day and subtract the cost of the ingredients.

To figure the Net Profit: A. Add up the ticket sales from selling day. B. Add up the ticket sales from selling day and subtract the cost of the ingredients. C. Add up cost to produc3 the product and subtract the total sales. D. Add the cost to produce the product and add the total sales.

Description : To figure the Net Profit: A. Add up the ticket sales from selling day. B. Add up the ticket sales from selling day and subtract the cost of the ingredients. C. Add up cost to produc3 the product and subtract the total sales. D. Add the cost to produce the product and add the total sales.

Last Answer : A. Add up the ticket sales from selling day.

Product planning tells you: A. Where you will produce your product. B. Cost to produce your product. C. Your Net profit. D. Total revenues.

Description : Product planning tells you: A. Where you will produce your product. B. Cost to produce your product. C. Your Net profit. D. Total revenues.

Last Answer : B. Cost to produce your product.

What is an entrepreneur? A. Someone who invests time and money to start a business. B. Someone who makes a lot of money. C. Someone who takes a risk to make a profit. D. Both A & C.

Description : What is an entrepreneur? A. Someone who invests time and money to start a business. B. Someone who makes a lot of money. C. Someone who takes a risk to make a profit. D. Both A & C.

Last Answer : D. Both A & C.

Quality Control is defined as: A. Controlling the cost of the product. B. Controlling the number of pieces produced. C. Producing & monitoring products so they are acceptable to the consumer. D. Producing & monitoring products so they are acceptable to the workers.

Description : Quality Control is defined as: A. Controlling the cost of the product. B. Controlling the number of pieces produced. C. Producing & monitoring products so they are acceptable to the consumer. D. Producing & monitoring products so they are acceptable to the workers.

Last Answer : C. Producing & monitoring products so they are acceptable to the consumer.

What things could you change to adjust your profit? A. Price. B. Number. C. Less expensive supply sources. D. All of the above.

Description : What things could you change to adjust your profit? A. Price. B. Number. C. Less expensive supply sources. D. All of the above.

Last Answer : D. All of the above.

Define Free Enterprise: A. A business taking a risk to make a profit. B. A program administered by the Government. C. People in business trying to make a profit. D. A business adventure or undertaking.

Description : Define Free Enterprise: A. A business taking a risk to make a profit. B. A program administered by the Government. C. People in business trying to make a profit. D. A business adventure or undertaking.

Last Answer : A. A business taking a risk to make a profit.

Cost per serving means: A. How much it will cost to produce one recipe. B. How much it will cost to produce what you sell in one day. C. How much it will cost to make “One.” D. How much it will cost to make one batch.

Description : Cost per serving means: A. How much it will cost to produce one recipe. B. How much it will cost to produce what you sell in one day. C. How much it will cost to make “One.” D. How much it will cost to make one batch.

Last Answer : C. How much it will cost to make “One.”

If a customer’s bill totals $.65 and the customer gives you $1.00, the correct amount of change (according to our worksheet) would be: A. 3 dimes and 1 nickel. B. 5 pennies and 3 dimes. C. 1 quarter and 1 dime. D. 1 quarter and 2 nickels.

Description : If a customer’s bill totals $.65 and the customer gives you $1.00, the correct amount of change (according to our worksheet) would be: A. 3 dimes and 1 nickel. B. 5 pennies and 3 dimes. C. 1 quarter and 1 dime. D. 1 quarter and 2 nickels.

Last Answer : C. 1 quarter and 1 dime.

When counting change back to a customer, you should always give the ____________ amount of coins possible. A. best. B. least. C. most. D. correct.

Description : When counting change back to a customer, you should always give the ____________ amount of coins possible. A. best. B. least. C. most. D. correct.

Last Answer : B. least.

What makes a good advertisement? (Choose the best combination) A. Color, Attracts attention, ingredients in product. B. Name of product, price, location, attractive. C. Easy to read, price, color, location, why customers should buy it. D. Nutritional information, price, color, where to buy it, easy to read.

Description : What makes a good advertisement? (Choose the best combination) A. Color, Attracts attention, ingredients in product. B. Name of product, price, location, attractive. C. Easy to read, price, color, ... should buy it. D. Nutritional information, price, color, where to buy it, easy to read.

Last Answer : B. Name of product, price, location, attractive.

A market survey is important because it tells you: A. How many & what types of people are shopping at a store. B. Tells you what the customer will buy. C. Tells you how much the customer will pay for the product. D. All of the above.

Description : A market survey is important because it tells you: A. How many & what types of people are shopping at a store. B. Tells you what the customer will buy. C. Tells you how much the customer will pay for the product. D. All of the above.

Last Answer : D. All of the above.

Capital is: A. Money available to invest. B. Prohibitive cost of entry. C. A guarantee that a company will be successful. D. A & B.

Description : Capital is: A. Money available to invest. B. Prohibitive cost of entry. C. A guarantee that a company will be successful. D. A & B.

Last Answer : A

Marcy ordered one cheeseburger, a large fry, a milkshake for herself and one for a friend. How much does she owe? A. $3.75. B. $2.90. C. $4.25. D. $4.00.

Description : Marcy ordered one cheeseburger, a large fry, a milkshake for herself and one for a friend. How much does she owe? A. $3.75. B. $2.90. C. $4.25. D. $4.00.

Last Answer : D. $4.00.

The bus driver ordered 2 hot dogs, a small fry, and a milkshake. A. $3.00. B. $3.15. C. $3.20. D. $3.25.

Description : The bus driver ordered 2 hot dogs, a small fry, and a milkshake. A. $3.00. B. $3.15. C. $3.20. D. $3.25.

Last Answer : D. $3.25.

10 people ordered 1 hamburger with lettuce, tomato, onion, and a small drink. A. $1.85. B. $1.80. C. $18.50. D. $18.00.

Description : 10 people ordered 1 hamburger with lettuce, tomato, onion, and a small drink. A. $1.85. B. $1.80. C. $18.50. D. $18.00.

Last Answer : C. $18.50.

Making a purchase you had not planned is called: A. Consumer shopping. B. A warranty. C. Impulse buying. D. Comparison shopping.

Description : Making a purchase you had not planned is called: A. Consumer shopping. B. A warranty. C. Impulse buying. D. Comparison shopping.

Last Answer : C. Impulse buying.

The following are included in a business plan A. Financial information, production plans, personnel policies. B. Goals of the business and how they will be achieved. C. A step by step plan for the success of your business. D. All of the above.

Description : The following are included in a business plan A. Financial information, production plans, personnel policies. B. Goals of the business and how they will be achieved. C. A step by step plan for the success of your business. D. All of the above.

Last Answer : C. A step by step plan for the success of your business.

Pick out the wrong statement. (A) Gross revenue is that total amount of capital received as a result of the sale of goods or service (B) Net revenue is the total profit remaining after deducting all costs excluding taxes (C) The ratio of immediately available cash to the total current liabilities is known as the cash ratio (D) Consolidated income statement based on a given time period indicates surplus capital and shows the relationship among total income, costs & profit over the time interval

Description : Pick out the wrong statement. (A) Gross revenue is that total amount of capital received as a result of the sale of goods or service (B) Net revenue is the total profit remaining ... indicates surplus capital and shows the relationship among total income, costs & profit over the time interval

Last Answer : (C) Working capital turnover ratio = sales/net working capital

The gross domestic product is 1. a measure of the profit made by all firms in the nation 2. the average annual earnings per person in the nation 3. a measure of the types of products produced by a nation 4. an overall measure of a nation's economic standing 5. none of these

Description : The gross domestic product is 1. a measure of the profit made by all firms in the nation 2. the average annual earnings per person in the nation 3. a measure of the types of products produced by a nation 4. an overall measure of a nation's economic standing 5. none of these

Last Answer : an overall measure of a nation's economic standing

The gross domestic product is A)a measure of the profit made by all firms in the nation. B)the average annual earnings per person in the nation. C)a measure of the types of products produced by a nation. D)an overall measure of a nation's economic standing.

Description : The gross domestic product is A)a measure of the profit made by all firms in the nation. B)the average annual earnings per person in the nation. C)a measure of the types of products produced by a nation. D)an overall measure of a nation's economic standing.

Last Answer : D)an overall measure of a nation's economic standing.

Gross profit is equal to 1. selling price minus purchase price 2. selling price minus purchase price plus depreciation 3. depreciation plus unsold stock minus purchase price 4. purchase price minus production cost 5. None of these

Description : Gross profit is equal to 1. selling price minus purchase price 2. selling price minus purchase price plus depreciation 3. depreciation plus unsold stock minus purchase price 4. purchase price minus production cost 5. None of these

Last Answer : selling price minus purchase price

Pick out the wrong statement. (A) Gross margin = net income - net expenditure (B) Net sales realisation (NSR) = Gross sales - selling expenses (C) At breakeven point, NSR is more than the total production cost (D) Net profit = Gross margin - depreciation - interest

Description : Pick out the wrong statement. (A) Gross margin = net income - net expenditure (B) Net sales realisation (NSR) = Gross sales - selling expenses (C) At breakeven point, NSR is more than the total production cost (D) Net profit = Gross margin - depreciation - interest

Last Answer : (C) At breakeven point, NSR is more than the total production cost

Income from operations is gross profit less a. administrative expenses. b. operating expenses. c. other expenses and losses. d. selling expenses.

Description : Income from operations is gross profit less a. administrative expenses. b. operating expenses. c. other expenses and losses. d. selling expenses.

Last Answer : b. operating expenses.

The ratio which is a good indicator to maintain the correct selling price and efficiency of trading activity is------ a) Net profit ratio b) Gross profit ratio c) Current ratio d) Liquid ratios

Description : The ratio which is a good indicator to maintain the correct selling price and efficiency of trading activity is------ a) Net profit ratio b) Gross profit ratio c) Current ratio d) Liquid ratios

Last Answer : b) Gross profit ratio

The ratio of the cost price of product A to that of B is 5:7. product A was sold at a profit of 80% and product B was sold at a profit of 20%. If the total profit earned after selling both the (products A and B is Rs 296) what is the difference between the cost prices of product A and B?

Description : The ratio of the cost price of product A to that of B is 5:7. product A was sold at a profit of 80% and product B was sold at a profit of 20%. If the total profit earned after selling both the (products A and B is Rs 296) what is the difference between the cost prices of product A and B?

Last Answer : CP of product A= 5X CP of product B=7x Total price = (5x*0.8)+(7x*0.2) =296 4X+1.4X=296 5.4X=296 x=54.81=55(approx.) difference of the CP= 7x-5x=2x=2*55  = Rs. 110

Specific tariffs are collected as (a) Fixed amount of money per unit traded (b) A percentage of the price of the product © A percentage on the quantity of imports (d) All of the above.

Description : Specific tariffs are collected as (a) Fixed amount of money per unit traded (b) A percentage of the price of the product © A percentage on the quantity of imports (d) All of the above.

Last Answer : (a) Fixed amount of money per unit traded

Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above

Description : Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above

Last Answer : d. all of the above

Cost behaviour analysis is a study of how a firm's costs A. relate to competitors' costs B. relate to general price level changes C. respond to changes in activity levels within the company D. respond to changes in the gross national product

Description : Cost behaviour analysis is a study of how a firm's costs A. relate to competitors' costs B. relate to general price level changes C. respond to changes in activity levels within the company D. respond to changes in the gross national product

Last Answer : C. respond to changes in activity levels within the company

The rate of gross profit is 20% on sales and the cost of goods sold is Rs. 1‚00‚000, the amount of gross profit will be– (A) Rs. 30‚000 (B) Rs. 25‚000 (C) Rs. 20‚000 (D) Rs. 16‚667

Description : The rate of gross profit is 20% on sales and the cost of goods sold is Rs. 1‚00‚000, the amount of gross profit will be– (A) Rs. 30‚000 (B) Rs. 25‚000 (C) Rs. 20‚000 (D) Rs. 16‚667

Last Answer : Answer: Rs. 25‚000

With respect to the income statement, a. contra-revenue accounts do not appear on the income statement. b. sales discounts increase the amount of sales. c. contra-revenue accounts increase the amount of operating expenses. d. sales discounts are included in the calculation of gross profit.

Description : With respect to the income statement, a. contra-revenue accounts do not appear on the income statement. b. sales discounts increase the amount of sales. c. contra-revenue accounts increase the amount of operating expenses. d. sales discounts are included in the calculation of gross profit.

Last Answer : d. sales discounts are included in the calculation of gross profit.

The main reason a manufacturer may try to prohibit intermediaries from selling its products outside designated sales territories is to 1. tighten its control over distribution of its products 2. discourage competition from other manufacturers 3. incorporate selective distribution 4. contain costs 5. none of these

Description : The main reason a manufacturer may try to prohibit intermediaries from selling its products outside designated sales territories is to 1. tighten its control over distribution of its products 2. ... other manufacturers 3. incorporate selective distribution 4. contain costs 5. none of these

Last Answer : tighten its control over distribution of its products

Walton Food Products decided to use agents to reach industrial accounts several years ago. Logically, this decision was based on which one of the following? A)Steady demand for the firm's products B)Walton's desire to stay close to its customers C)Walton's desire to reduce selling costs D)The willingness of agents to provide market information

Description : Walton Food Products decided to use agents to reach industrial accounts several years ago. Logically, this decision was based on which one of the following? A)Steady demand for the firm's ... C)Walton's desire to reduce selling costs D)The willingness of agents to provide market information

Last Answer : C)Walton's desire to reduce selling costs

The main reason a manufacturer may try to prohibit intermediaries from selling its products outside designated sales territories is to A)tighten its control over distribution of its products. B)discourage competition from other manufacturers. C)incorporate selective distribution. D)contain costs.

Description : The main reason a manufacturer may try to prohibit intermediaries from selling its products outside designated sales territories is to A)tighten its control over distribution of its products. B)discourage competition from other manufacturers. C)incorporate selective distribution. D)contain costs.

Last Answer : A)tighten its control over distribution of its products.

Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Description : Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Last Answer : (2) money values of the total national production for any given period Explanation: Gross national product (GNP) is the market/monetary value of all products and services produced in one year by labour and property supplied by the residents of a country.

Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Description : Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Last Answer : money values of the total national production for any given period

In context of net operating profit, which of the following statements are true? A. If all costs are variable, the amount of profit obtained in marginal costing and absorption costing will be same. B. If the volume of sales and output is equal in a period, profit will be same in absorption costing and marginal costing. C. Both a and b D. None of the above

Description : In context of net operating profit, which of the following statements are true? A. If all costs are variable, the amount of profit obtained in marginal costing and absorption costing will be same. B. If ... same in absorption costing and marginal costing. C. Both a and b D. None of the above

Last Answer : C. Both a and b

Which one of the following is not a feature of monopoly? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Description : Which one of the following is not a feature of monopoly? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Last Answer : (2) Heavy selling costs Explanation: Heavy selling cost is one of the defining features of an oligopoly. Firms resort to heavy selling cost to attract customers. Under this market ... mainly by heavy advertising and promotional expenditure that ultimately adds to the total selling cost.

Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging different prices based on cost-of-service differences d. selling a certain product of given quality and cost per unit at different prices to different buyers

Description : Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging ... a certain product of given quality and cost per unit at different prices to different buyers

Last Answer : d. selling a certain product of given quality and cost per unit at different prices to different buyers

3. S produces and sells one product, P, for which the data are as follows: Selling price Rs 28 Variable cost Rs 16 Fixed cost Rs 4 The fixed costs are based on a budgeted production and sales level of 25,000 units for the next period(a) 10.1% decrease (b) 11.2% decrease (c) 13.3% decrease (d) 16.0% decrea

Description : 3. S produces and sells one product, P, for which the data are as follows: Selling price Rs 28 Variable cost Rs 16 Fixed cost Rs 4 The fixed costs are based on a budgeted production and sales level of 25 ... period(a) 10.1% decrease (b) 11.2% decrease (c) 13.3% decrease (d) 16.0% decrease

Last Answer : (a) 10.1% decrease

Which one of the following is not a feature of monopoly ? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Description : Which one of the following is not a feature of monopoly ? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Last Answer : Heavy selling costs

Each Student of a class collected some money for the trip. The total money collected by each student was equal to the cube of the total number of students. If the total amount collected was Rs. 29791. find the total number of students. 1. 31 2. 30 3. 28 4. 37 5. 39

Description : Each Student of a class collected some money for the trip. The total money collected by each student was equal to the cube of the total number of students. If the total amount collected was Rs. 29791. find the total number of students. 1. 31 2. 30 3. 28 4. 37 5. 39

Last Answer : 1;  Total number of students

Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit

Description : Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit

Last Answer : D. Out of free reserves built out of genuine profit

A segment of activity or area of operation for which cost is collected is known as ----------------- a) Cost centre b) Profit centre c) Investment centre d) Responsibility centre

Description : A segment of activity or area of operation for which cost is collected is known as ----------------- a) Cost centre b) Profit centre c) Investment centre d) Responsibility centre

Last Answer : a) Cost centre

When a company reviews sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives, they are in which of the following new process development stages ? 1. Concept development and testing 2. Commercialization 3. Business analysis 4. Marketing strategy development 5. none of these

Description : When a company reviews sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives, they are in which of the following new ... testing 2. Commercialization 3. Business analysis 4. Marketing strategy development 5. none of these

Last Answer : Business analysis

Total cost of a product: Rs. 10,000 Profit: 25% on Selling Price Profit is: (a) Rs. 2,500 (b) Rs. 3,000 (c) Rs. 3,333 (d) Rs. 2,000

Description : Total cost of a product: Rs. 10,000 Profit: 25% on Selling Price Profit is: (a) Rs. 2,500 (b) Rs. 3,000 (c) Rs. 3,333 (d) Rs. 2,000

Last Answer : (b) Rs. 2,80,000

Profit after selling a product for Rs. 850 is the same as the loss after selling it for Rs.710. What is the cost of the product?

Description : Profit after selling a product for Rs. 850 is the same as the loss after selling it for Rs.710. What is the cost of the product?

Last Answer : Assume cost Price = x P = 850 –x P 850 – x = 710 +x 850 – 710 = 2x 140 = 2x X = 70 P = 850– 70 = 780

Deepak selling a product at 48% discount, he incurs a loss of 10%. The marked price of the product is 15000 Rs. At what percent discount he should sell the product so as to have a profit of 30%.

Description : Deepak selling a product at 48% discount, he incurs a loss of 10%. The marked price of the product is 15000 Rs. At what percent discount he should sell the product so as to have a profit of 30%.

Last Answer : Mp=15000==>Sp= 15000*0.52= 7800. Loss of 10% is there==>Cp= 7800/ 0.90= RS.8666.66 Profit of 30% = 6000*1.15=11266.66 Discount should be Rs2600 Discount % should be {2600/15000}*100 =17.3%

By selling a mobile at 52% discount, a seller incurs a loss of 8%. The marked price of the product is 18000 Rs. At what percent discount the seller should sell the mobile so as to have a profit of 33%.

Description : By selling a mobile at 52% discount, a seller incurs a loss of 8%. The marked price of the product is 18000 Rs. At what percent discount the seller should sell the mobile so as to have a profit of 33%.

Last Answer : Since, Marked Price = 18000 Therefore, Selling Price = 18000*0.48 = 8640 Loss of 8% is there Therefore, Cost price = 8640/0.92 = 9391.30Rs To have profit of 33% The Selling Price should be = 9391. ... should be 18000 - 12490.42 = 5509.58Rs Discount% should be [5509.58/18000]*100 = 30.60 ≈ 31%.