Ballard Company Uses the Perpetual Inventory System

question 89

Multiple Choice

Ballard Company uses the perpetual inventory system.The company purchased $16,000 of merchandise from Andes Company under the terms 2/10,net/30.Ballard paid for the merchandise within 10 days and also paid $500 freight to obtain the goods under terms FOB shipping point.All of the merchandise purchased was sold for $30,000 cash.The amount of gross margin for this merchandise is:

• A)$14,000
• B)$13,820
• C)$16,000
• D)$13,500

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Definitions:

Genetically Identical

Describes organisms, such as twins or clones, that have exactly the same DNA sequence.

Plasticity

The brain's ability to change and adapt as a result of experience, learning, or injury.

Epigenetics

The study of changes in organisms caused by modification of gene expression rather than alteration of the genetic code itself.

Neurogenesis

The process of generating new neurons in the brain, which continues to occur in certain regions throughout life.