Use the Information Given Below to Answer the Following Questions

question 26

Multiple Choice

Use the information given below to answer the following questions:
Retained profits of Livermore Pty Ltd at 1 July 2011 were $5500. The accounting records for year ended 30 June 2012 showed the following information:
$$\begin{array} { l r } &\$\\\text { Revenues earned } & 35500 \\\text { Cash collected from customers } & 5700 \\\text { Expenses incurred } & 32250 \\\text { Expenses paid in cash } & 29620 \\\text { Dividends declared and paid } & 1500\end{array}$$
-What was Livermore's net profit for the year ended 30 June 2012?

• A) $1750
• B) $2000
• C) $3250
• D) $7450.

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Definitions:

Sales-oriented Era

A business approach focusing on the promotion and selling of products, often irrespective of consumer demand, prevalent in the mid-20th century.

Market-oriented Era

A period in business where the focus shifts towards understanding and fulfilling the preferences and needs of consumers in the market.

Value-based Marketing

A marketing strategy that focuses on providing products or services that deliver exceptional value to customers, encouraging loyalty and satisfaction.

Retailing-oriented Era

A period in business thought and practice focusing on the importance of retailing strategies and consumer relationships for organizational success.