Refer to the Following Trial Balance How Much Is the Gross Profit?
A) $193,000
B) $56,000

question 93

Multiple Choice

Refer to the following trial balance. $\begin{array}{|l|c|c|}\hline& \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 19,000 & \\\hline \text { Accounts Receivable } & 40,000 & \\\hline \text { Merchandise Inventory } & 62,000 & \\\hline \text { Supplies } & 17,000 & \\\hline \text { Land } & 310,000 & \\\hline \text { Accounts Payable } & & \$ 3,000 \\\hline \text { Notes Payable } & & 25,000 \\\hline \text { Common Stock } & & 354,000 \\\hline \text { Retained Earnings } & & 21,000 \\\hline \text { Dividends } & 6,000 & \\\hline \text { Sales Revenue } & & 433,000 \\\hline \text { Cost of Goods Sold } & 240,000 & \\\hline \text { Salaries Expense } & 15,000 & \\\hline \text { Utilities Expense } & 67,000 & \\\hline \text { Rent Expense } & 55,000 & \\\hline \text { terest Expense } & 5,000 & \\\hline \text {Totals} & \$ 836,000 & \$ 836,000 \\\hline\end{array}$ How much is the gross profit?

• A) $193,000
• B) $56,000
• C) $51,000
• D) $45,000

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Definitions:

Mere Exposure Effect

A psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Initially Disliked

Refers to a negative first impression or initial negative feelings towards a person, object, or idea.

Stimulus

Any object, event, or factor that can evoke a response or reaction from an organism or a system.

Perceived Similarity

The degree to which individuals believe they share common attributes or experiences with others.