Future Business Leaders of America (FBLA) Agribusiness Practice Test

What does 'gross' refer to in terms of purchasing?

1. A financial loss from sales

2. The total amount of money earned

3. Purchasing 12 dozen or 144 items

4. A type of electronic transaction

The correct answer is: Purchasing 12 dozen or 144 items

The term 'gross' in the context of purchasing primarily refers to the idea of a quantity that is related to the measurement of items, specifically in terms of counting. When discussing items and their quantities, 'gross' is commonly used to denote a grouping of 12 dozen, which equals 144 items. This is a standard unit of measurement in retail and inventory management, making it relevant and practical for business operations. The other concepts, while important in their own contexts, do not align specifically with the meaning of 'gross' as it pertains to purchasing quantities. Financial losses and earnings typically relate to profits or sales metrics rather than item quantities. Electronic transactions also operate outside this specific definition, focusing more on the payment process rather than the physical counting of purchased goods. Therefore, understanding that 'gross' signifies a specific quantity helps clarify its applicability in agribusiness and purchasing contexts.