Last Year Ty's Grocery Had Inventory of $237,500 and fiXed

question 249

Multiple Choice

Last year Ty's Grocery had inventory of $237,500 and fixed assets of $51,400. This year, Ty's has inventory of $231,900 and fixed assets of $48,700. Depreciation for this year is $6,300. Which one
Of the following statements is true given this information?

• A) Both inventory and fixed assets are uses of cash in the amounts of $5,600 and $3,600, respectively.
• B) Both inventory and fixed assets are uses of cash in the amounts of $5,600 and $2,700, respectively.
• C) Inventory is a source of cash in the amount of $5,600 and fixed assets is a use of cash in the amount of $2,700.
• D) Inventory is a source of cash in the amount of $5,600 and fixed assets is a use of cash in the amount of $3,600.
• E) Both inventory and fixed assets are sources of cash in the amounts of $5,600 and $3,600 respectively.

---

Definitions:

Wagner Act

A foundational piece of U.S. labor legislation passed in 1935 that protects the rights of workers to organize into unions, engage in collective bargaining, and take collective action such as strikes.

Collective Bargaining

The process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment.

Taft-Hartley Act

A 1947 U.S. federal law that restricts the activities and power of labor unions.

Secret-Ballot Elections

A voting method in which voters' choices are confidential to ensure free and fair selection, often used in union representation elections.