Use This Information to Answer the Following Question

question 146

Multiple Choice

Use this information to answer the following question. If the income statement were prepared in a multistep form,operating expenses would be

• A)$46,000.
• B)$16,000.
• C)$22,250.
• D)$40,000.

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Definitions:

Profit-Maximizing

A strategy or approach taken by firms to adjust their production and pricing to achieve the highest possible profit.

Output

The amount of products or services generated by a business, sector, or nation during a specific period.

Auto Repairs

Services provided to fix or maintain vehicles to ensure they are in optimal working condition.

Gasoline

A petroleum-derived liquid mixture consisting primarily of hydrocarbons, used primarily as fuel in internal combustion engines.