Financial Information Is Presented Below The Amount of Net Sales on the Income Statement Would

question 207

Multiple Choice

Financial information is presented below: $$\begin{array} { l r } \text { Operating expenses } & \$ 45,000 \\\text { Sales returns and allowances } & 3,000 \\\text { Sales discounts } & 7,000 \\\text { Sales revenue } & 160,000 \\\text { Cost of goods sold } & 96,000\end{array}$$ The amount of net sales on the income statement would be

• A)$153,000.
• B)$150,000.
• C)$160,000.
• D)$157,000.

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Definitions:

Human Nature

The general psychological characteristics, feelings, and behavioral traits of humankind, regarded as shared by all humans.

Money Relationship

The way individuals perceive, interact, and manage their finances and views on money.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification, highlighting similarities in some respects.

American Culture

The set of customs, traditions, language, values, and norms that are characteristic of the American people.