Jankowski Corporation Reports a $15,000 Increase in Inventory and a $5,000

question 32

Multiple Choice

Jankowski Corporation reports a $15,000 increase in inventory and a $5,000 increase in accounts payable during the year. Cost of goods sold for the year was $150,000. The cash payments made to suppliers were

• A) $150,000.
• B) $160,000.
• C) $130,000.
• D) $145,000.

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Definitions:

War Debts

The money owed by several countries as a result of borrowing to finance their involvement in World War I and other conflicts.

Reparations Issue

The debate and discussion regarding compensation for groups that have suffered injustices and harms, such as slavery or colonization, focusing on the acknowledgment of past wrongs and the provision of redress.

First World War

A global conflict that took place from 1914 to 1918, primarily involving European nations, and is known for introducing widespread military conscription and trench warfare.

American Labor Force

The total number of workers, including both the employed and the unemployed, within the United States.