Up-To-Date Merchandisers Has the Following Transactions for the Month of July

question 116

Multiple Choice

Up-to-date Merchandisers has the following transactions for the month of July. $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 440,000 \\\hline \text { Cost of Goods Sold } & 300,000 \\\hline \text { Operating Expenses } & 90,000 \\\hline \text { Sales Discounts } & 25,000 \\\hline \text { Sales Returns and Allowances } & 18,000 \\\hline \text { Interest Revenue } & 7,000 \\\hline\end{array}$$ Calculate Gross Profit.

• A)$54,000
• B)$97,000
• C)$115,000
• D)$140,000

---

Definitions:

Contact Cultures

Societies or communities that prefer close physical proximity and touch as part of social interactions.

Personal Space

The physical area surrounding an individual that they regard as psychologically theirs, comfort levels with proximity vary across cultures and individuals.

Noncontact Cultures

Societies or communities that maintain social distance and prefer minimal physical contact in social interactions.

Ambience

The character and atmosphere of a place, often created by its aesthetic qualities, lighting, and environment.