Blog Inc., has net sales of $50,000, cost of goods sold of $30,000, and selling expenses of $5,000. Its gross profit is $20,000.
<h3>What is gross profit?</h3>
Gross profit is the profit of a company or an entity after subtracting all the costs that are related to manufacturing and selling its products or services.
Explanation:- Gross Profit = (Net Sales – Cost of Goods Sold)
= ($50,000- $30,000)
= $20,000
Hence, the gross profit of the Blog Inc., would be $20,000.
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Answer:
finite and take millions of years to replenish
Explanation:
Oil reserves can be regarded as a the amount of crude oil which can be recovered technically at a cost which is feasible financially as regards present price of oil. Therefore, there will always be change in reserve with the price, compare with oil resources, that encompass all oil which can be technically recovered at any price.
Oil reserves can also be explained as estimate amount of crude oil that is been located in a particular economic region. oil reserves always posses potential of being extracted through current technological constraints. Calculations of Reserves based on a proven/probable basis, which means that oil pools which is situated in unattainable depths, cannot be said to be part of a nation's reserves. It should be noted that Oil reserves buried deep underground are finite and take millions of years to replenish
Answer:
Y represents the economy’s total expenditure
Explanation:
The equation Y = C + I + G + NX represents the expenditure approach to calculating GDP.
Y - economy’s total expenditure
C - household expenditures on services and goods
I - investment by firms
G - Government Spending
NX - Net Export
The variables can either be positive or negative .
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