Cod Ltd Provides the Following Information for the Period Ended

question 44

Multiple Choice

Cod Ltd provides the following information for the period ended 30 June 2014: $\begin{array}{|l|r|}\hline & \$ 0 \\\hline \text { Cost of goods sold for the year } & 110 \\\hline \text { Discounts received for early payment to suppliers } & 82 \\\hline \text { Wages } & 62 \\\hline \text { Opening balance of trade creditors } & 40 \\\hline \text { Closing balance of trade creditors } & 45 \\\hline \text { Opening balance of inventory } & 30 \\\hline \text { Closing balance of inventory } & 15\\\hline\end{array}$ What is the cash paid to suppliers for the period?

• A)$82 000
• B)$144 000
• C)$184 000
• D)$122 000

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Definitions:

Evaluation

Evaluation involves the systematic assessment of the value, performance, or importance of an object, project, or program, based on relevant criteria or standards.

Gestalt Psychology

A theory of mind that proposes humans naturally perceive objects as organized patterns and wholes, rather than as separate components.

Principle of Similarity

A concept from Gestalt psychology that states individuals tend to perceive elements as grouped together if they are similar to each other in shape, color, size, or other attributes.

Physical Characteristics

The observable attributes or features of an object, person, or place.