Paper Clip Company Sells Office Supplies

question 161

Multiple Choice

Paper Clip Company sells office supplies.The following information summarizes the company's operating activities for the year:

What is operating income?

• A)$154,500
• B)$56,000
• C)$38,000
• D)$46,000

---

Definitions:

Federal Reserve Bank

The central banking system of the United States, responsible for regulating the nation's financial institutions and managing the country's monetary policy.

Unit Of Account

A commonly used numerical value that measures the market price of goods, services, and various transactions.

Commodity Money

Money that has intrinsic value because it is made of a commodity with its own value, such as gold or silver.

Intrinsic Value

The inherent or true value of an asset, investment, or company, based on underlying perception of its true value including all aspects of the business.