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

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Definitions:

Economic Growth

A rise in the output of goods and services in the economy, measured from one time period to another.

Consumer Goods

Items bought by the typical consumer for their own use, encompassing long-lasting items, perishable products, and various services.

Capital Goods

Physical assets that a company uses in the production process to manufacture products and services that consumers will later use.

Opportunity Cost

Giving up possible benefits from other solutions when a single solution is chosen.