A company reports the following amounts at the end of the current year:

Sales revenue $ 860,000

Selling expenses 250,000

Gain on the sale of land 30,000

Interest expense 10,000

Cost of goods sold 520,000

Under normal circumstances (ignoring tax effects), permanent earnings would be computed as:

a) $90,000.

b) $80,000.

c) $50,000.

d) $110,000.

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

You are the manager of the packaging department in a cookie factory. (obviously, the packaging employees cannot eat the cookies that are transferred in during the period.) after your employees insert cookies into colorful packages (step 1) for display on store shelves, the packages of cookies are then boxed using cardboard cartons (step 2) for shipment to stores. each unit of product is represented by a carton of packaged cookies. the packaging department began the period with 1,000 units of cookies. during the period, 5,000 units of cookies were transferred in from the baking department and 5,500 units of cookies were transferred out to the finished goods department. the number of units of cookies in the ending inventory of the packaging department equals: