What Is the Net Price of an Item If the 17.5

question 246

Multiple Choice

What is the net price of an item if the 17.5% trade discount is equal to $32.44?

• A) $381
• B) $185
• C) $153
• D) $217
• E) $92

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Definitions:

Balance Sheet

A Balance Sheet is a financial statement that presents a company's assets, liabilities, and shareholders' equity at a specific point in time.

Balance Sheet Equation

an accounting formula that represents the relationship between assets, liabilities, and equity (Assets = Liabilities + Equity).

Liabilities

Financial obligations or debts that a company owes to others, which must be settled through the transfer of assets or services.

Assets

Resources owned or controlled by a business that are expected to produce economic value or future benefits.