Use the Information Below to Answer the Following Questions:
the

question 34

Multiple Choice

Use the information below to answer the following questions:
The following information is taken from the accounts of Arc Ltd for the year ended 30 June 2012 .
$\begin{array}{lr} & \$ \\ \text { Inventory, 1 July 2011 } & 90,000 \\ \text { Inventory, 30 June 2012 } & 95,000 \\ \text { Creditors, 1 July } 2011 & 70,000 \\ \text { Creditors, 30 June } 2012 & 60,000 \\ \text { Cash purchases } & 190,000 \\ \text { Cost of goods sold } & 420,000 \\ \text { Discount received from creditors } & 15,000\end{array}$
-What was the amount paid to suppliers (cash and credit) during the year?

• A) $190 000
• B) $420 000
• C) $610 000
• D) $435 000.

Recognize outliers and their impact on data analysis.

Understand the difference between descriptive and inferential statistics and their applications.

Identify various tools and techniques used in statistics.

Recognize the historical development of statistical methods and their importance in various fields.

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Definitions:

Investment Sold

The act of disposing of an investment asset, which can include stocks, bonds, or real estate, usually to generate cash or realize gains.

Equity Method

An accounting technique used to record investments in associate companies, where the investment's value is adjusted in accordance with changes in the investee's net assets.

Voting Shares

Shares of a company's stock that grant the shareholder the right to vote on company matters, typically in the election of the board of directors.

Open Market

A scenario where trading of goods, services, securities, or assets occurs in a free and unrestricted environment, often characterized by a competitive marketplace.