The Following Is a Listing of Some of the Balance

question 81

Multiple Choice

The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Northview Company as they appear on the company's adjusted trial balance. $\begin{array}{lr}\text { Accounts Payable } & \$ 30,000 \\\text { Accounts Receivable } & 33,000 \\\text { Inventory } & 60,000 \\\text { Advertising Expense } & 36,000 \\\text { Cost of Goods Sold } & 267,000 \\\text { Delivery Expense } & 18,000 \\\text { Income Tax Expense } & 6,000 \\\text { Insurance Expense } & 3,000 \\\text { Rent Expense } & 36,000 \\\text { Sales Revenue } & 480,000 \\\text { Sales Discounts } & 33,000 \\\text { Sales Returns \& Allowances } & 57,000\end{array}$ Net sales would be:

• A)$90,000.
• B)$372,000.
• C)$390,000.
• D)$480,000.

---

Definitions:

Routine

A sequence of actions regularly followed; a fixed program.

Culture

A set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group, or the way of life of a group of people.

IQ Test Results

The evaluation outcomes from standardized assessments measuring human intelligence and cognitive abilities.

Schooling

The process of educating individuals, typically in a formal institutional setting like schools or colleges.