1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
faltersainse [42]
3 years ago
11

​Jim's Handicrafts' main product sells for​ $100 and the cost of goods sold is​ $40. The​ $60 (the difference between the​ two)

is called​ ______.
Business
1 answer:
sammy [17]3 years ago
4 0

Answer:

Gross Profit

Explanation:

Gross Profit is defined as the amount earned by the company, after deducting the cost of producing and selling the products in case of a manufacturing business, or the cost of providing services to customers in case of service oriented business. Therefore, the difference between sales revenue and the cost of goods sold is called Gross Profit.

Sales Revenue - Cost of Goods Sold = Gross Profit

$100 - $ 40 = $60  

You might be interested in
Sheffield borrowed $701000 on October 1, 2017 and is required to pay $721000 on March 1, 2018. What amount is the note payable r
Georgia [21]

Answer:

On October 01, 2017

The amount actually borrowed that is $ 701,000 will be recorded as liability/note payable on october 01, 2017. The following accounting entry will be passed

Debit Cash Asset           $ 701,000

Credit Note payable       $ 701,000

Interest recognized from October 1 to December 31, 2017

The premium amount paid on redemption will be recorded as interest over the period of time. The interest amount is

Interest = 721,000 -701,000 = $ 20,000

So this above calculated expense will be recognized as an expense over loan period.

5 0
3 years ago
Warranty service, processing of complaints, and costs of litigation are examples of Multiple Choice appraisal costs. internal fa
zhannawk [14.2K]

Examples of internal failure costs include warranty service and complaint handling. As a result, choice b is accurate.

<h3>What do you mean by internal failure cost?</h3>

Internal failure costs are expenses related to flaws discovered prior to the client receiving the good or service. External failure costs are expenses related to flaws discovered after the client has purchased the good or service.

Internal failure costs are quality expenses related to product flaws found before a product leaves the facility.

Hence, warranty services all are examples of the internal failure cost.

Learn more about internal failure costs:

brainly.com/question/14802565

#SPJ1

8 0
1 year ago
Economist: On average, the emergency treatment for an elderly person for injuries resulting from a fall costs $11,000. A new the
madreJ [45]

Answer: <em>Option (C) is correct.</em>

Explanation:

<em>A recurrent conclusion of injuries occurred while falling is a long-term pain, medication for these are not taken in consideration among  intermediate per-person costs of emergency cure for aged or old individuals's laceration from such falls</em>, if true, will have the tendency to seriously undermines conclusion of argument given in the comprehension.

This states that argument given in the comprehension has not taken in consideration cost for medicine which overall will increase cost. Thereby with an increase in cost the given statement will become untrue since the cost of surgery and medicine combined is higher than cost, in such a case treatment would be more economical. Therefore it undermines conclusion of argument.

8 0
3 years ago
What is one medical use for x-rays​
MakcuM [25]

Answer:

X-rays can be used to see what areas of a bone a broken or injured. It helps understand what parts of the body may have injuries.

Hope this helps.

6 0
3 years ago
One of the difficulties associated with value-based pricing is that
nikdorinn [45]

One of the difficulties associated with value-based pricing is that the producer may end up running at loss because the price does cover the cost incurred during production.

The value-based pricing entails fixing of prices based on customer's perceived value of the product.

The companies who practiced the value-based pricing do so to make sure the product price and expectation of the customers match.

However, one of the difficulties associated with value-based pricing is that the producer may end up running at loss because the price does cover the cost incurred during production.

Learn more about this here

<em>brainly.com/question/20699420</em>

7 0
3 years ago
Other questions:
  • Country X has currency C1 and Country Y has currency C2. The nominal exchange rate C2/C1 and GDP deflator P for Country X and P*
    12·1 answer
  • In an effort to reduce pipe breakage, water hammer, and product agitation, a French chemical company plans to install several ch
    6·1 answer
  • What government organization formed to enforce antitrust laws and to make sure the interests of small businesses were protected
    13·2 answers
  • Marigold Corp. has 493000 shares of $10 par value common stock outstanding. During the year Marigold declared a 14% stock divide
    7·1 answer
  • A major bank has an application where customers can see their balances in their checking accounts, the positions in their broker
    5·1 answer
  • A jet ski depreciates at 11% of its original value each year. If the jet ski was $8000 at its time of purchase, what is the valu
    5·1 answer
  • Are policymakers susceptible to​ rent-seeking behavior? Explain. ​Rent-seeking behavior
    13·1 answer
  • Preferred stock is a hybrid security because it has some characteristics typical of debt and others typical of equity. The follo
    11·1 answer
  • The wage gap refers to
    9·1 answer
  • Discounted cash flow methods consider the present value of the cash flows after the recovery of the initial investment. quizlet
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!