Stephen Company had the following partial list of account balances at year-end: Accounts Receivable: $9,000 Cost of Goods Sold: $34,100 Sales Revenue : $57,200 Accounts Payable: $7,500 Sales Discounts: $1,600 Merchandise Inventory: $5,900 Operating Expenses: $8,400 Sales Returns and Allowances: $4,300 The amount of Gross Profit shown on the income statement would be:

The concept that emphasizes that no defects are tolerable and that all employees are responsible for maintaining quality standards is called

A) performance quality. B) total quality management. C) quality reliability. D) quality ownership. E) a quality circle.

The activities that are included in the operating activities section of the statement of cash flows are ________

A) activities that involve stockholders' equity B) activities that create revenue or expenses C) activities that increase or decrease long-term assets D) activities that pertain to construction of new facilities