Amoeba Manufacturing Inc

question 8

Multiple Choice

Amoeba Manufacturing Inc.provided the following information for the year 2015: The inventory account balances as of January 1^st 2015 are given below.

-What is the ending balance in the Raw Materials Inventory account?

• A)$54,000
• B)$6,000
• C)$111,000
• D)$24,250

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Definitions:

Mediation

A conflict resolution technique involving a neutral third party who helps disputing parties reach a voluntary agreement.

Binding Ruling

A final and enforceable decision given by a legal authority, which all involved parties must adhere to.

Contract

A legally enforceable pact made between two or more entities, binding them in agreement.

Punitive Damages

Compensation awarded in a lawsuit that exceeds simple restitution and is intended to punish the defendant for wrongdoing and deter future similar acts.