Ogden Company Uses Its Accounts Payable Account Only for Inventory

question 83

Multiple Choice

Ogden Company uses its accounts payable account only for inventory purchases. The following account balances were reported on its financial statements:
$\begin{array}{|l|r|r|}\hline \text { Accounts }&\text { December } 31,2014&\text { December } 31,2013\\\hline \text { Merchandise inventory } & \$ 70,000 & \$ 66,000 \\\hline \text { Accounts payable } & 68,000 & 65,000 \\\hline \text { Cost of goods sold } & 889,000 & 856,000\\\hline\end{array}$
How much cash did Ogden Company pay to suppliers during 2014?

• A) $887,000
• B) $890,000
• C) $896,000
• D) $34,000

Distinguish between the purposes and functions of different types of organizations, including profit and non-profit entities.

Appreciate the necessity for organizations to adapt and innovate for survival and effectiveness.

Describe the process and significance of effective human resources management in organizations.

Recognize the difference between management and organizational behavior, understanding their distinct roles in organizational effectiveness.

---

Definitions:

Rogers and Maslow

Carl Rogers and Abraham Maslow are prominent figures in humanistic psychology, emphasizing individual potential, self-actualization, and the importance of personal growth and fulfillment.

Situational Factors

External influences that affect an individual's behavior, decision-making process, and overall performance in different contexts.

Aversive States

Unpleasant or uncomfortable conditions that organisms are motivated to avoid, change, or escape from.

Psychology Roots

The historical foundations and development of psychology as a discipline, encompassing its philosophical, physiological, and experimental beginnings.