Beginning Inventory Was $5,000

question 124

Multiple Choice

Beginning inventory was $5,000.During the month,the company purchased an additional $25,000 of inventory and sold goods that cost $20,000.Ending inventory was:

• A) $5,000
• B) $50,000
• C) $10,000
• D) $0

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Definitions:

Financialization

The escalating relevance of financial markets, financial reasons, financial bodies, and financial upper echelons in the functioning of the economy and its administrative institutions.

Banking Regulations

Are laws and guidelines established by governments and financial regulatory bodies to ensure stability, fairness, and efficiency in the banking sector.

Corporate Governance

The framework of rules, practices, and processes by which a company is directed and controlled, ensuring accountability, fairness, and transparency in a company's relationship with its stakeholders.

Financial Markets

Platforms where individuals, companies, and governments can trade financial securities, commodities, and other fungible assets.