Financial Information Is Presented Below $\begin{array}{lr}\text { Operating expenses } & \$ 40,000 \\\text { Sales revenue } & 200,000 \\\text { Cost of goods sold } & 150,000\end{array}$

question 1

Multiple Choice

Financial information is presented below: $\begin{array}{lr}\text { Operating expenses } & \$ 40,000 \\\text { Sales revenue } & 200,000 \\\text { Cost of goods sold } & 150,000\end{array}$ Gross profit would be

• A)$160,000.
• B)$ 40,000.
• C)$ 50,000.
• D)$ 10,000.

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Definitions:

Low-Opportunity Cost Producer

An entity that can produce a good or service at a lower sacrifice of alternative goods compared to others.

Trading Nation

A country whose economy heavily depends on international trade, importing and exporting goods and services as a significant portion of its gross domestic product (GDP).

Fewer Labor Hours

A reduction in the amount of time workers spend engaged in productive activities, usually measured on a weekly or annual basis.