Use the Information Below to Answer the Following Question(s)

question 96

Multiple Choice

Use the information below to answer the following question(s) .
Summerville Company sells office supplies. The following information summarizes the company's operating activities for the year:

-What is gross profit at Summerville Company?

• A) $43,000
• B) $82,000
• C) $74,000
• D) $58,000

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Definitions:

Money Supply

The aggregate of cash and banking deposits that constitute the financial assets within an economy at a particular time.

Medium Of Exchange

An intermediary instrument used to facilitate the sale, purchase, or trade of goods between parties, commonly accepted in the form of money.

Barter

The exchange of goods and services between parties without the use of money as a medium of exchange.

Bank Credit Cards

Financial instruments issued by banks that allow users to borrow funds from a pre-approved limit to purchase items or withdraw cash.