Hickory Inc

question 54

Multiple Choice

Hickory Inc. reports the following: End of Year Beginning of Year
Merchandise Inventory $26,000 $42,000
Accounts Payable 33,000 18,000
If cost of goods sold for the year is $137,000, the amount of cash paid to suppliers is

• A)$168,000.
• B)$138,000.
• C)$136,000.
• D)$106,000.

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Definitions:

Social Experiences

The interactions and events that an individual undergoes in society, which contribute to their personal development and social identity.

Genetic

Relating to genes or heredity, and the influence thereof on the physical and possibly behavioral traits of an organism.

Competition

A situation in which individuals or groups vie for dominance, resources, or success in a particular field or activity.

Resources

Assets, materials, and substances available for use in the production of goods or the provision of services.