A Business Has Made a Profit of £120, Its Opening

question 7

Multiple Choice

A business has made a profit of £120, its opening inventory was £30, it purchases were £150 and it closing inventory was £50. All transactions were for cash. What was the total cash inflow for the period?

• A) £100
• B) £120
• C) £250
• D) £150
• E) None of the above

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Definitions:

Northern Capitalists

Wealthy industrialists and financiers from the northern United States who played a significant role in the country's economic development post-Civil War.

Freedpeople

Individuals who have been released from the condition of slavery, often in the context of the 19th-century United States following the Civil War.

Agricultural Regions

Geographic areas known for a predominant focus on agriculture and farming activities.

Ownership of Land

Holding legal title or claim to a piece of ground, including the right to use, control, and transfer the land.