The Following Data Include All the Elements from Tuche Millinery's

question 44

Multiple Choice

The following data include all the elements from Tuche Millinery's income statement: $$\begin{array} { l r } \text { Administrative Expense } & \$ 229 \\\text { Cost of Goods Sold } & 259 \\\text { Gain on Sale of Securities } & 46 \\\text { Income Tax Expense } & 53 \\\text { Loss on Discontinued Operations } & 38 \\\text { Loss on Disposal of Equipment } & 86 \\\text { Revenue } & 866 \\\text { Selling Expense } & 124\end{array}$$ What is the amount of operating income for Tuche Millinery?

• A) $607
• B) $378
• C) $254
• D) $197

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Definitions:

Lost Property

Items that are unintentionally left by their owner, who then becomes disconnected from them and does not know where to find them.

Finder

An individual or entity that locates, identifies, or recovers property or information, potentially earning a fee or commission for their services.

Bailor

An individual who temporarily entrusts possession of personal property to another, known as the bailee, under a bailment agreement.

Transfers Possession

The act of passing the physical control or ownership of an item, property, or asset from one party to another.