An entity has a 50% gross margin, general and administrative expenses of $50, interest expense of $20, and net income of $10 for the year just ended.

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How does Gross Income differ from Net Income?
Posted by:
حسين محمد ياسين
24-January-2016

If the corporate tax rate is50%, the level of sales revenue for the year just ended was

A. $90

B. $135

C. $150

D. $180

Accounting Auditing Banking taxation

Question added by Deleted user
Date Posted: 2015/02/26

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2 Answers

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN

by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Answer option >>>>>>>>>>>>>>>>>>>>>> D. $180

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Praveen Kumar Singh

by Praveen Kumar Singh , Executive Director & CEO , Usha Siam Steel Industries PLC

The Correct Answer is D -180 $

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