ABC Is a Company That Commenced Business on 1 January

question 2

Multiple Choice

ABC is a company that commenced business on 1 January 2016. Below are the balances in the 30 June 2016 financial statements.

What is the balance of liabilities?

• A) $7000
• B) $9000
• C) $15 000
• D) None of the answers provided

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Definitions:

Lean Operations

A structured strategy for decreasing waste in manufacturing processes without compromising on efficiency.

Just-In-Time Techniques

Supply chain management strategies focused on reducing inventory levels and increasing efficiency by receiving goods only as they are needed in the production process.