Balance Sheet
A document that compares assets to liabilities plus owner's equity.
Income Statement
A financial statement that details a business's revenue and expenses for a given period.
Break-Even Point
The point where a business's revenue matches its expenses over a given period.
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ESB v2 Domain 4 exam questions and answers 2024 Balance Sheet A document that compares assets to liabilities plus owner's equity. Income Statement A financial statement that details a business's revenue and expenses for a given period. Break -Even Point The point where a business's revenue matches its expenses over a given period. Profit Margin The net profit the company wants to make from the sale and is usually represented using a percentage. Selling Price Formula [(cost) * (desired profit margin)] + (cost) Ben owns a shoe store. He has a new line of limited -edition running shoes that he will be selling in his store soon. The cost of manufacturing the shoes was $18 per pair, and he wants to make a 20% profit on each pair he sells. What is Ben's selling price? $21.60 Adam owns a restaurant. A new dish is being added to the restaurant's menu. The cost of making the dish is $6.75, and he wants to make a 33% profit on each dish he sells. What is Adam's selling price? $8.98 Cory owns a home goods store. He is about to add a new line of candles to his store. The cost of manufacturing the candles is $8.46 per candle, and he wants to make a 52% profit on each candle. What is Cory's selling price? $12.94
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