The Following Information Is from Cogs,Inc

question 228

Multiple Choice

The following information is from Cogs,Inc.'s December 31,2011 annual report: Cash paid to vendors on Cogs,Inc.'s statement of cash flows equals ________.

• A)$100,000
• B)$110,000
• C)$104,000
• D)$96,000

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Definitions:

Cost of Goods Sold

The explicit expenses linked to manufacturing the products a business sells, including costs for materials and labor.

Balance Sheet

A document detailing a business's assets, liabilities, and equity of shareholders at a particular moment, offering an overview of its financial health.

Spreadsheet

A digital document where data is arranged in rows and columns, commonly used for calculations and data analysis.

Job-Order Costing

An accounting method where costs are assigned to specific jobs or batches, allowing for a detailed tracking of production costs.