The Unit of Weight Used for Precious Stones Is the Carat

question 34

Multiple Choice

The unit of weight used for precious stones is the carat (1 carat = 200 mg, exactly) . If a particular 1.25 carat diamond cost $7000.00, what is the cost of a collection of identical diamonds which weighs 1.00 ounce? [1 ounce = 28.35 grams]

• A) $28,000
• B) $35,000
• C) $16,000
• D) $790,000

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Definitions:

Total Assets

The cumulative value of all resources owned by a company, including cash, inventory, property, and equipment.

New Computer

A recent purchase or acquisition of a computing device for personal or business use.

Cash

Physical form of currency such as coins and banknotes; in accounting, cash also includes balances in bank accounts.