Tito Company Reports a $20,000 Increase in Inventory and a $5,000

question 183

Multiple Choice

Tito Company reports a $20,000 increase in inventory and a $5,000 decrease in accounts payable during the year. Cost of Goods Sold for the year was $182,000. Using the direct method of reporting cash flows from operating activities, cash payments made to suppliers were

• A) $182,000.
• B) $162,000.
• C) $207,000.
• D) $157,000.

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Definitions:

Strong Moral Values

Principles or standards of behavior that are considered important and virtuous by a society or individual.

Self-Organizing Group

A group that forms and organizes itself naturally based on common interests or goals, often without a formal leadership structure.

Primary Group

A small social group characterized by close, personal, and enduring relationships, often significant in the development of social identity.

Shortest Duration

The minimum length of time that occurs from the start to the finish of a given event or process.