Backyards,Inc

question 91

Multiple Choice

Backyards,Inc.,sells lawn furniture.Selected financial information for the most recent year follows: Beginning merchandise inventory on January 1 was $32,000.
Ending merchandise inventory on December 31 was $37,000.
Purchases during the year were $101,000.
Selling and administrative expenses were $75,000.
Sales for year were $257,000.
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What was operating income for the year?

• A)$86,000
• B)$81,000
• C)$96,000
• D)$76,000

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Definitions:

Maslow's Theory

refers to Maslow's Hierarchy of Needs, a psychological theory proposing that humans are motivated by five levels of needs: physiological, safety, love/belonging, esteem, and self-actualization.

Prepotent Needs

In Maslow's hierarchy, these are more dominant or pressing needs that must be satisfied before higher-level needs can be addressed.

Climate of Openness

An organizational atmosphere where communication is encouraged, and employees feel comfortable sharing ideas and feedback.

"Useless" Idea

An idea perceived as having no practical value or immediate benefit, though it may have potential for future application or innovation.