Use the Information Below for Adams Company to Answer the Questions

question 132

Multiple Choice

Use the information below for Adams Company to answer the questions that follow.
​
Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter:
​
​
Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job.
-What is the ending balance of Cost of Goods Sold for Adams Company at the end of the first quarter?

• A) $456
• B) $2,685
• C) $1,685
• D) $685

---

Definitions:

Anticybersquatting Consumer Protection Act

A U.S. federal law aimed at preventing individuals or entities from registering, trafficking in, or using an Internet domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else.

Statutory Damages

Damages predetermined by law for certain types of violations, without the need to prove actual harm or loss.

Domain Name

A unique identifier for a website address on the internet, which allows users to access specific web content.

Trademark Dilution

The weakening of a famous trademark's uniqueness and value due to its unauthorized use by others, even without causing confusion.