ABC Has No Opening Inventory

question 29

Multiple Choice

ABC has no opening inventory. During the year, it buys 2000 microwave ovens at $300 each and sells 1500 of them for $500 each. Cash operating expenses are $40 000 and it owes wages of $10 000 at year-end. What is accrual profit for the year?

• A) $100 000
• B) $110 000
• C) $250 000
• D) None of the above

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The foundational document outlining the legal and political framework of a state, detailing the structure of government, rights of the people, and functions of institutions.

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