The revenue earned by a business from its normal business operations. (p. 475) cost of merchandise sold 2. The amount of sales, less sales discounts and sales returns and allowances. (p. 475) 3. The original price of all merchandise sold during a fiscal period. (p. 476) 4. The revenue remaining after cost of merchandise sold has been deducted. (p. 476) 5. The expenses incurred by a business in its normal operations. (p. 478) 6. The operating revenue remaining after the cost of merchandise sold and operating expenses have been deducted. (p. 478) 7. A financial statement that shows changes in a corporation's ownership for a fiscal period. (p. 482) 8. A value assigned to a share of stock and printed on the stock certificate. (p. 483) 9. Liabilities due within a short time, usually within a year. (p. 489) 10. Liabilities owed for more than a year. (p. 489) 11. A report prepared to give details about an item on a principal financial statement. (p. 492)

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."

answer; whoever is willing and able to pay the price;