Use the Figure for the Question(s)below

question 7

Multiple Choice

Use the figure for the question(s) below.
-The above screen shot from Google Finance shows the basic stock information for Wesfarmers Ltd. ("WES") after the close of the ASX on 11 September 2017. What is the highest price WES has traded at in the last 12 months?

• A)$41.50
• B)$45.49
• C)$41.45
• D)$41.32

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Definitions:

Prior Period Adjustment

Adjustments made to the financial statements to correct errors or inaccuracies from previous periods.

Residual Value

The estimated salvage value an asset will have at the end of its useful life.

Manufacturing Equipment

Machinery and tools that are used in the process of producing goods in a manufacturing facility.

Salvage Value

Salvage Value is the estimated residual value of an asset at the end of its useful life, expected to be recovered once the asset is no longer useful in operations.