clearing checks
acting as government fiscal agent
supervising members bankers
regulate money supply
supply paper currency
setting reserve requirements
The Piagetian process that was at work here in the given excerpt is accomodation.
<u>Explanation:</u>
The three basic components of the Piaget's cognitive theory are namely
1. Schemas - these are the building blocks of knowledge.
2. Adaptation process - this includes equilibrium, assimilation and accomodation.
3. Stages of cognitive development - former operational, concrete operational, preoperational and sensorimotor.
<u>Accomodation:</u>
The accommodation stage is when the existing knowledge (schema) doesn't work and it requires a change or an updation to deal with the upcoming situation.
Here, Dave makes an accomodation since his old school of thoughts did not fit in his present scenario.
To find the gross profit margin found by:
(revenue - cost of goods sold)/revenue
Revenue = $62,275
Cost of goods sold (purchase price) = $26,500
= (62,275 - 26,500)/62,275
= 35,775/62,275
= 0.57 x 100
Percentage of gross profit = 57%