There Are Two Units of an Inventory Item in Stock

question 5

Multiple Choice

There are two units of an inventory item in stock. The selling price is $400 and the value is $400. What is the individual cost of the item -

• A) $100
• B) $200
• C) $300
• D) $400

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Definitions:

Entrapment Defense

A legal defense claiming the defendant was induced by law enforcement to commit a crime they otherwise would not have committed.

Entrapment

A relatively common defense under which the defendant claims that he would not have committed the crime or broken the law if he had not been induced or tricked into doing so by law enforcement officials.

Insider Trading

The illegal trading of a public company's stock by someone with access to nonpublic, material information about the company.

Tipping

The practice of giving money, beyond the cost of a service, to certain service workers for a job well done.