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3 years ago

In a multi-step Income Statement:

Business

1 answer:

Anastasy [175]3 years ago

7 0

Answer: B.

Explanation: The multi-step income statement is ultimately used in determining Net Income which is calculated by separately determining :

1. Gross profit( Net sales - cost of goods sold)

2. Operating income( Operating expenses - Gross profit)

3. Operating income combined with non - operating revenue, losses, profit and expenses to obtain the net income or loss.

Conclusively, Gross profit(margin) will be calculated separately, which then be used to obtain the operating income.

Read more about the output phase,

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4 0

2 years ago

How many of the following statements about testing are true?

Rus_ich [418]

Answer:

The answer is E) Testing for controlling would most often involve scenario, integration and user acceptance testing.

Explanation:

In quality control, there involve a series of tests: Scenario testing, Integration testing and User acceptance testing.

Scenario testing is done once there a functionally that can be tested is developed. Under scenario testing, integration of functions is not done yet but it is possible to test the performance of the interface developed to ascertain how an end user will use it.

Integration testing involves testing the functionally of a combined unit assembled from individual units to see how well they perform as an integrated unit.

User acceptance testing is doe at the final phase to check how well it can perform in real time. This is meant to check user friendliness and ease of access.

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3 years ago

Total sales revenue is $1000, total variable costs are $600 and total fixed costs are $1000. The price is $10 per unit. Compute

Marizza181 [45]

Answer:

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Explanation:

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3 years ago

Georgia’s gross pay was $35,600 this year. She is to pay a federal income tax of 16%. How much should Georgia pay in federal inc

jasenka [17]

Gross income is different from Taxable Income. There are deductions that must be deducted from gross income to arrive at the taxable income.

<h3>Federal income tax this year</h3>

Correct option is C.

Georgia pay in federal income tax this year "$5,696. 00"

In order to find federal income tax, calculate adjusted gross income.

Then from adjusted gross income, subtract exemptions and deductions to get your taxable income.

Only 11 % of the people who belong to the age group 25-55 years do not pay federal income tax while more than 80% who belong to the age group of 75 years or older also do not pay tax.

Georgia's gross pay 35,600 this year.

Rate of federal income tax = 16%

Hence, amount paid by Georgia = 16/100×35,600 =$5696

Learn more about Gross income, refer to the link:

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2 years ago