The total revenue for a given year of a firm is $1,000,000. The cost of goods sold for the same accounting period is $360,000. The total expenses incurred are $200,000. What is the net profit for the firm?

A.) $360,000

B.) $440,000

C.) $800,000

D.) $640,000

E.) $560,000

Question

Hailey

Mathematics

17 December, 01:24

The total revenue for a given year of a firm is $1,000,000. The cost of goods sold for the same accounting period is $360,000. The total expenses incurred are $200,000. What is the net profit for the firm?

A.) $360,000

B.) $440,000

C.) $800,000

D.) $640,000

E.) $560,000

+3

Answers (1)

Know the Answer?

Cullen Doyle · Answer 1

The correct answer is B) $440,000.

Subtract the cost of goods from the revenue:

1,000,000 - 360,000 = 640,000

Now subtract the expenses:

640,000 - 200,000 = 440,000

The total revenue for a given year of a firm is $1,000,000. The cost of goods sold for the same accounting period is $360,000. The total expenses incurred are $200,000. What is the net profit for the firm?A.) $360,000B.) $440,000C.) $800,000D.) $640,000E.) $560,000

The total revenue for a given year of a firm is $1,000,000. The cost of goods sold for the same accounting period is $360,000. The total expenses incurred are $200,000. What is the net profit for the firm?

A.) $360,000

B.) $440,000

C.) $800,000

D.) $640,000

E.) $560,000