Best Value Company Started Its Operations on January 1,2017

question 77

Multiple Choice

Best Value Company started its operations on January 1,2017.It engages in buying and selling different types of electronic gadgets.The first step in its operating cycle would be to ________.

• A)collect cash from customers
• B)sell goods to customers
• C)purchase inventory from vendors
• D)record the sales in accounts

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Definitions:

Camera

A device that records or captures images, which can be stored, viewed directly, or transmitted to another location.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Mountain Dew

A popular citrus-flavored carbonated soft drink produced by PepsiCo.

Price

The money measure forecasted, demanded, or given in fulfillment of something.