Boone Inc Reports the Following If Cost of Goods Sold for the Year Is $150,000

question 25

Multiple Choice

Boone Inc. reports the following: $\begin{array}{lrr}&\text { End of Year }&\text { Beginning of Year }\\\text { Inventory } & \$ 25,000 & \$ 40,000 \\\text { Accounts Payable } & 30,000 & 10,000\end{array}$ If cost of goods sold for the year is $150,000, the amount of cash paid to suppliers is

• A) $155,000.
• B) $145,000.
• C) $115,000.
• D) $185,000.

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Definitions:

Business Cycles

Fluctuations in economic activity over time, characterized by periods of expansion (growth) and contraction (recession) in the economy.

CPFR Process

Collaborative Planning, Forecasting, and Replenishment, a process where supply chain partners share forecasts and plans to enhance supply chain efficiency.