M Studios (Calgary) Had Retail Sales of $166,465

question 198

Multiple Choice

M Studios (Calgary) had retail sales of $166,465.25, including GST, for the last quarter. In the same period M Studios purchased $45,000 worth of supplies and paid $75,000 for store renovations, plus the GST on these goods and services. What GST must be remitted by M Studios (or refunded) for the last quarter?

• A) $1,926.92
• B) $2,323.26
• C) $1,907.10
• D) $6,396.35
• E) $1,920.29

---

Definitions:

Social Environmental Factors

External factors in society and one's environment that can influence behavior, attitudes, and development.

Theory

A set of principles and ideas intended to explain facts or phenomena, providing a framework for understanding concepts.

Sensation Seeking

The pursuit of novel and intense experiences, reflecting a personality trait characterized by a desire for sensory and emotional arousal.

Genetic Factors

Elements within an organism's genes that influence its traits and behaviors, inherited from its parents.