Table 11-12

question 28

Multiple Choice

Table 11-12. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below.
-Refer to Table 11-12. To the nearest dollar, Will's 2010 food expenditures in 2009 dollars amount to

• A)$5,236.
• B)$5,431.
• C)$5,524.
• D)$5,608.

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Definitions:

Inventory

The total amount of goods and materials held by a business for the purpose of resale or production.

Net Income

The total profit or loss of a business after all expenses, including taxes and interest, have been deducted from revenue.

Financial Statements

Reports that provide an overview of a business's financial condition, including income statement, balance sheet, and cash flow statement.