Read the Paragraph Below and Answer the Questions That Follow

question 26

Multiple Choice

Read the paragraph below and answer the questions that follow.
(1) Mexico City is a fascinating mixture of modern and traditional ways of life. (2) The city boasts sleek skyscrapers, such as the famous Latin America tower. (3) However, it also proudly displays its graceful Spanish colonial palaces and public buildings, many of which are 300 years old. (4) Glittering stores line the main shopping streets, offering the latest in international styles of clothing and house furnishings. (5) Yet old fashioned street markets fill the city, from the great food market of the Merced to stalls in small plazas selling such piñatas and paper Christmas decorations. (6) Huge modern factories in the northern section turn out most of Mexico's clothing, steel, cement, appliances, and electrical supplies. (7) In contrast, craftspeople line the city's streets with their handmade baskets, pottery, metalwork, and textiles.
What two things are being compared and/or contrasted?

• A) Mexico's city and country
• B) Mexico City's modern and traditional features
• C) Mexican and Spanish buildings

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Definitions:

Asset

Anything of value owned or controlled by a business, entity, or individual that can be used to generate income or settle liabilities.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated for financial reporting and tax purposes.

Cost of Goods Sold

Cost of goods sold (COGS) is the direct cost attributed to the production of the goods sold by a company, including the material and labor expenses.

Gross Profit

The distinction between sales income and the expense of goods sold prior to subtracting overhead costs, wages, taxes, and interest charges.