Chicago Steel's Operating Activities for the Year Are Listed Below

question 281

Multiple Choice

Chicago Steel's operating activities for the year are listed below.

What is the gross profit for the year?

• A)$50,000
• B)$750,000
• C)$1,500,000
• D)$100,000

---

Definitions:

Small Business Administration (SBA)

A U.S. government agency that provides support to entrepreneurs and small businesses through loans, loan guarantees, counseling, and other assistance programs.

Exporting Goods

The act of sending goods or services produced in one country to another country for sale or trade.

U.S. Companies

Businesses that are registered, operate, or are headquartered in the United States.

Business Failure

The cessation of operations and the closing of a business due to its inability to make a profit or cover its expenses, leading to financial losses for owners and investors.