Table 9-3 Bryce and Tina Are Artisans Who Produce Homemade Candles and Who

question 66

Multiple Choice

Table 9-3

Bryce and Tina are artisans who produce homemade candles and soap. Table 9-3 lists the number of candles and bars of soap Bryce and Tina can each produce in one month.
-Refer to Table 9-3.Select the statement that accurately interprets the data in the table.

• A)Bryce has an absolute advantage in making candles and Tina has an absolute advantage in making soap.
• B)Bryce has an absolute advantage in making soap and Tina has an absolute advantage in making candles.
• C)Bryce has an absolute advantage in making soap.
• D)Tina has an absolute advantage in making candles.

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Definitions:

Net Purchases

Net purchases are the total amount of purchases minus returns, allowances, and discounts over a specified period, often used in analyzing inventory costs.

Sales Discounts

Reductions in the price of goods or services offered as an incentive to customers to encourage prompt payment.

Net Sales

The amount of sales revenue remaining after deducting sales returns, allowances, and discounts.

Sales Returns

Transactions where customers return previously purchased merchandise, possibly due to defects or dissatisfaction, impacting the seller's revenue.