A Company Has Four Vendors and the Accounts Payable Subsidiary

question 22

Multiple Choice

A company has four vendors and the accounts payable subsidiary ledger shows the following balances. $$\begin{array} { | l | l | } \hline \text { Alpha } & \$ 282,821 \\\hline \text { Beta } & 151,474 \\\hline \text { Gamma } & 38,943 \\\hline \text { Delta } & 37,187 \\\hline\end{array}$$ Calculate the accounts payable balance in the general ledger.

• A)$277,604
• B)$434,295
• C)$560,425
• D)$282,821

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Definitions:

Self-Sufficient

The quality or condition of being able to fulfill all one's needs without reliance on external assistance.

Specialize

To focus on a specific area of production or study to gain efficiency or expertise.

Gains from Trade

The increase in welfare or economic benefit that countries or individuals obtain by engaging in voluntary exchanges where they specialize according to their comparative advantages.

Equilibrium

A state in a market where supply equals demand, leading to a stable situation where there is no tendency for prices to change, assuming other factors remain constant.