Use the Following for Questions 111-115

question 147

Multiple Choice

Use the following for questions 111-115.

-(Exhibit: The Demand for Golf Balls) Assume that 3 dozen golf balls are purchased for $14 per dozen.Consumer surplus is:

• A) $1.
• B) $4.
• C) $9.
• D) $16.

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Definitions:

Sales Revenue

The overall sum of money made from selling products or services before deducting any costs.

Direct Method

A cash flow statement preparation approach that enumerates major classes of gross cash receipts and payments.

Beginning Balance

The amount of money or value available in an account at the start of a new financial period.

Ending Balance

The amount of money or value in an account at the end of a financial period.