Porches,Inc

question 145

Multiple Choice

Porches,Inc.sells lawn furniture.Selected financial information for the most recent year is as follows:
Beginning merchandise inventory on January 1 was $33,000.
Ending merchandise inventory on December 31 was $35,000.
Purchases during the year were $92,000.
Selling and administrative expenses were $75,000.
Sales for year were $262,000.
What was operating income for the year?

• A)$90,000
• B)$97,000
• C)$95,000
• D)$93,000

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Definitions:

Disclosure

The act of making information or data known or revealed, often referring to personal, confidential, or sensitive details.

Privilege

Unearned advantages or entitlements that benefit certain groups over others, often based on social or cultural identities such as race, gender, or class.

Intake

Therapist’s first meeting with the client in which the therapist gathers specific information to address the client’s immediate needs.

Evaluation

The process of assessing or examining something with the possible intent of instituting change if necessary.