Table of contents

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1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

4. Merchandising Operations

Net Sales

Financial Accounting

4. Merchandising Operations

Net Sales

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Multiple Choice

If Lauren's salary decreases from \$34,000 to \$30,000, what is the percentage decrease in her salary?

15.00\%

11.76\%

8.82\%

12.50\%

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Verified step by step guidance

Step 1: Understand the formula for percentage decrease, which is: $ \text{Percentage Decrease} = \frac{\text{Original Value} - \text{New Value}}{\text{Original Value}} \times 100 $.

Step 2: Identify the original value (Lauren's initial salary) as $ \$34,000 $ and the new value (Lauren's reduced salary) as $ \$30,000 $.

Step 3: Calculate the difference between the original value and the new value: $ \text{Difference} = \text{Original Value} - \text{New Value} = \$34,000 - \$30,000 $.

Step 4: Divide the difference by the original value to find the proportion of the decrease: $ \text{Proportion} = \frac{\text{Difference}}{\text{Original Value}} $.

Step 5: Multiply the proportion by 100 to convert it into a percentage: $ \text{Percentage Decrease} = \text{Proportion} \times 100 $.