Alpha Hardware Sells on the Instalment Plan

question 28

Multiple Choice

Alpha Hardware sells on the instalment plan.Sales-related figures for Alpha hardware for 2017 were as follows: sales,$700 000;down payments on the sales,$70 000;collections on instalments $300 000;beginning inventory,$50 000;ending inventory,$40 000;and purchases,$410 000.What is Alpha Hardware's gross profit for 2017 using the instalment method?

• A)$370 000
• B)$280 000
• C)($50 000)
• D)$148 000

Grasp the relationship between saving and investment in an economy.

Understand how interest can exist without a formal currency in a barter economy.

Recognize the differences between investing in physical capital and human capital.

Appreciate the conditions necessary for benefiting from technological advances and entrepreneurial ideas.

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Definitions:

Characteristic Patterns

Distinctive behaviors, thoughts, or emotions that are typical for an individual or group, often forming a recognizable profile.

Disposition

A person's inherent qualities of mind and character, influencing how they think, feel, and behave.

Person-Situation Controversy

The debate concerning whether the person or the situation is more influential in determining a person's behavior.

Environments

The surroundings or conditions in which an organism lives or operates, including natural, social, and built contexts.