The Owner of a Hobby Store Bought a Case of 9-Volt

question 6

Multiple Choice

The owner of a hobby store bought a case of 9-volt batteries for $24.00. He marked the price up such that his profit was $1.76 per battery. After selling 12 batteries, the store owner had recovered his cost. How many 9-volt batteries are in a case?

• A) 100 batteries
• B) 110 batteries
• C) 105 batteries
• D) 95 batteries

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Definitions:

Statement Of Cash Flows

A financial report detailing how modifications in balance sheet accounts and income influence cash and cash equivalents.

Quick Ratio

A liquidity ratio that measures a company's ability to meet its short-term obligations with its most liquid assets excluding inventories.

Operating Cash Flows

The amount of cash generated by a company's normal business operations.

Fixed Assets

Durable physical assets employed in a company's operations, which are not anticipated to be turned into cash quickly.