Gonzo Company Reports a $25000 Increase in Inventory and a $12000

question 176

Multiple Choice

Gonzo Company reports a $25000 increase in inventory and a $12000 decrease in accounts payable during the year. Cost of Goods Sold for the year was $185000. Using the direct method of reporting cash flows from operating activities cash payments made to suppliers were

• A) $185000.
• B) $197000.
• C) $222000.
• D) $148000.

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Definitions:

Sole Good

The concept in ethics that there is only one ultimate value or good towards which all actions are directed.

Good

That which is morally right, beneficial, or of high quality.

Evil

A moral wrong or wickedness that is often regarded as a profound immorality.

Stoics

A school of ancient philosophy that teaches virtue, understanding, and acceptance of what life offers.