Up and Away Unlimited Provides the Following Information for the Period

question 45

Multiple Choice

Up and Away Unlimited provides the following information for the period ended 30 June 2014: $$\begin{array} { | l | r | } \hline & \$ 0 \\\hline \text { Cost of goods sold for the year } & 450 \\\hline \text { Discounts received for early payment to suppliers } & 25 \\\hline \text { Opening balance of trade creditors } & 210 \\\hline \text { Closing balance of trade creditors } & 240 \\\hline \text { Opening balance of inventory } & 111 \\\hline \text { Closing balance of inventory } & 130 \\\hline\end{array}$$ What is the cash paid to suppliers for the period?

• A)$376 000
• B)$415 000
• C)$474 000
• D)$426 000

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Definitions:

NLRA Deregulation

The process of reducing or eliminating government rules governing the National Labor Relations Act, potentially affecting labor relations and practices.

Antitrust Regulations

Laws and policies designed to prevent anti-competitive practices, monopoly, and to promote fair competition for the benefit of consumers.

Stakeholder Model

A theory of organizational management and ethics focusing on the needs and interests of all stakeholders, including employees, customers, and the community.

Adversarial Model

A model of dispute resolution, commonly found in legal contexts, where two or more parties with opposing interests present their argument before a neutral party, such as a judge or arbitrator.