Solve the Problem

question 36

Multiple Choice

Solve the problem. Round rates to the nearest whole percent and dollar amounts to the nearest cent.
-The Oak Gallery had a clearance sale during which it sold an oak coffee table for $233. If the cost was $164 and the operating expenses were 25% of cost, find the amount of profit or loss.

• A)$17.25 loss
• B)$28.00 profit
• C)$17.25 profit
• D)$28.00 loss

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Definitions:

Management Service

Professional services aimed at overseeing and improving the operations of a business or organization.

Billing Practices

The methods and procedures used by organizations or individuals to charge for services or products, including invoicing and payment collection.

Fraud

An act of deception that is used to take advantage of another person or entity.

Diagnostic Codes

Alphanumeric codes used in healthcare to identify and classify diseases, symptoms, and procedures for billing and records.