Opec Ltd Manufactures Crystal Balls

question 6

Multiple Choice

Opec Ltd manufactures crystal balls.Transactions for year ended 31 December 2012 were as follows:
(i) 18 000 units at a cost of $20 each were produced.
(ii) 14 000 units were sold at $30 each.
(iii) Cash was collected on 10 000 of those units sold.
What was the reported profit for the year 2009?

• A) $100 000
• B) $140 000
• C) $180 000
• D) $350 000.

---

Definitions:

Psychoanalysis

A therapeutic approach and theory of psychotherapy developed by Sigmund Freud that emphasizes unconscious processes and childhood experiences in understanding and treating psychological disorders.

Insight Therapies

Therapies that aim to improve psychological functioning by increasing a person’s awareness of underlying motives and defenses.

Psychological Functioning

Refers to the mental processes and behaviors that encompass emotional, cognitive, and social aspects of an individual's well-being.

Underlying Motives

The hidden reasons or intrinsic desires that drive an individual's actions or decisions.