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34kurt
3 years ago
6

Short Corp. reported net income of $63,000 for the year and had a tax rate of 30%. Net sales were $300,000 and Operating expense

s were $90,000 for the year. Assuming there were no other revenues and expenses, what did Short report for cost of goods sold for the year?
Business
1 answer:
Mekhanik [1.2K]3 years ago
7 0

Answer:

Cost of goods sold  : $ 120.000

Explanation:

income before taxes   : 63000 / 0.7 = 90000  

(+) expenses                                          90.000

Total                                                      180.000

(-) net sales                                         300.000

= cost of goods                                   120.000

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3 0
3 years ago
Ivan is the founder of a firm producing self-driving vehicles. Because the industry is so new and chaotic, Ivan favors a top-dow
mina [271]

a. The self-driving vehicle industry is changing too much for the top-down approach to be effective.

b. The top-down approach can only be applied to specific business functions.

c. The top-down approach leaves other employees uncertain about their roles in the company.

d. The top-down approach is expensive to maintain, leaving the company at a competitive disadvantage.

Answer:

a. The self-driving vehicle industry is changing too much for the top-down approach to be effective.

Explanation:

The top-down approach is a model in which there is a hierarchical style and the decisions are made by the manager and then informed down the organizational chart and the lower levels have to accept the decisions. In this approach, people in the lower levels have low participation and influence on the decisions and as the firm's industry is changing too much, this people would posses crucial information and specialized knowledge that the top level might not have and because of that, this approach might not be effective. According to that, the answer is that this scenario is wrong because the self-driving vehicle industry is changing too much for the top-down approach to be effective.

3 0
3 years ago
Contracts drafted under a common law framework tend to be
Fynjy0 [20]

Answer:

In detailed along with all the contingencies that are spelled out.

Explanation:

Common law is the body which is of legal rules that have been made or build through the judges as they will issue the rulings on cases, which is opposed to the rules and the laws which were made through the official statutes or the legislature.

Under the common law, the contracts are made or stated or drafted so that they will provide a brief as well as detailed rules along with all the possible contingencies which were spelled out or made out.

3 0
3 years ago
Which of the following events would cause a rightward shift of the AD curvea rightward shift of the AD curve​, other things bein
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Answer: C. There has been a decline in the foreign exchange value of the nation’s currency.

Explanation:

The Demand curve of a country can be written as an equation which is

C+I+G+(X-M)

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When ever consumption, investment, government expenditure or net exports increase the demand curve shifts to the right and whenever they decrease the demand curve shifts to the left.

In this case when the value of the currency foreign exchange declines, the country reduce its imports because they are now more expensive as your currency's value is declining and the exports will increase because they will now be cheaper to foreign buyers as their currency is now gotten stronger. This decrease in imports and increase in exports will  increase net exports and an increase in net exports will shift the demand curve to the right

8 0
3 years ago
Which of the following is true when an economy produces at full employment, but consumers, government, businesses, and the forei
Art [367]

Answer:

When an economy produces at full employment, but consumers, government, there is a recessionary gap - Option B.

Explanation:

According to the Keynesian perspective, firms produce output only if they expect it to sell.

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Keynes termed a fall in the aggregate demand as a recessionary gap.

A recessionary gap refers to an economy operating at a level below its full-employment equilibrium. Under this condition, the level of real gross domestic product (GDP) is lower than the level of full employment, which puts downward pressure on prices in the long run.

Thus, when an economy produces at full employment, but consumers, government, there is a recessionary gap - Option B.

6 0
3 years ago
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