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Felipe Worked Part-Time at a Grocery Store in High School

question 4

Multiple Choice

Felipe worked part-time at a grocery store in high school, and although he made friends, he didn't enjoy working directly with the public. He graduated from high school with honors in math and science but struggled a little in humanities classes. Over the summer, he worked as an assistant to his uncle, a carpenter. Felipe didn't mind the long hours or the hard work, but when they finished a project, he didn't feel the same sense of accomplishment as his uncle. Instead, he was just glad they were done. Now Felipe is in his first term at college and he is working part-time at a diner as a short-order cook. He really enjoys preparing food for customers and has even come up with a few new dishes of his own. Felipe's mother wants him to be an attorney, but he isn't sure what he wants to do. Considering his personal experiences, Felipe would likely be most strongly engaged in an academic path in which field of study?

Definitions:

Gross Profit

The difference between revenue from sales and the cost of goods sold, before accounting for selling, general, and administrative expenses.

Cost of Goods Sold

The specific costs related to the production of goods that a company markets.

Net Realizable Value

An estimated selling price in the ordinary course of business minus reasonably predictable costs of completion, disposal, and transportation.

Selling Price

The amount of money charged for a product or service, which may include a markup for profit over the cost of production.