Cost of Merchandise Sold for the Year Was $850,000

question 90

Multiple Choice

Cost of merchandise sold for the year was $850,000.Inventories were $60,000 and $120,000 at the beginning and end of the year,respectively.There were no changes in accounts payable from the beginning to the end of the year.Cash payment for merchandise to be reported on the cash flow statement using the direct method is:

• A)$850,000.
• B)$910,000.
• C)$940,000.
• D)$880,000.

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Definitions:

Sensible Hobby

Refers to a leisure activity chosen wisely that is both enjoyable and beneficial to personal development or health.

Positive Processing

Cognitive activities oriented towards and emphasizing positive aspects of a situation or experience.

Well-being

The state of being comfortable, healthy, or happy, often considered holistically to include physical, mental, and social dimensions.

Perceived Control

The belief that an individual has the ability to influence the events in their life, a concept related to self-efficacy and empowerment.