Megan and John Have Been Married for 10 Years

question 2

Multiple Choice

Megan and John have been married for 10 years.Megan is the vice-president of a bank and John is an investment banker.They enjoy a combined income of more than $100,000.Megan loves art.She buys paintings of renowned painters in auctions all over the world.Which of the following categories do they belong to?

• A)under class consumers
• B)upper class consumers
• C)working class consumers
• D)middle class consumers
• E)lower class consumers

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Definitions:

Operating Expenses

Costs associated with running a business's core operations, excluding the cost of goods sold.

Depreciation Expense

The methodical distribution of the expense of a physical asset throughout its expected lifespan.

Cash Payments

Transactions that involve the outflow of cash to settle obligations or purchase goods and services.

Cost of Merchandise Sold

The total cost of goods that have been sold during a specific period, including purchase price, transportation, and handling charges, less any discounts or allowances.