If Tom Sells 500 Sandwiches for $7 and Has an Average

question 31

Multiple Choice

If Tom sells 500 sandwiches for $7 and has an average cost of $5, what is his total revenue?

• A) $500
• B) $1,000
• C) $2,500
• D) $3,500

---

Definitions:

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically used for the financing of payroll, inventories, and other short-term liabilities.

Money Market Securities

Short-term financial instruments, typically with high liquidity and short maturities, traded in the money market.

Registration Statement

A set of documents, including a prospectus, filed with a regulatory body to register a company's securities for sale to the public.

Prospectus

A document disclosing the details of a security and the underlying business to prospective investors.