Goldman Corp Assuming All Purchases Are on Credit,how Much Cash Was Paid

question 140

Multiple Choice

Goldman Corp.reported the following information for 2017 and 2018. $\begin{array}{lr}\text { Accounts payable, December } 31,2017 & \$ 51,000 \\\text { Accounts payable, December } 31,2018 & 46,000 \\\text { Purchases-2018 } & 467,000\end{array}$
Assuming all purchases are on credit,how much cash was paid for merchandise during 2018?

• A)$421,000
• B)$462,000
• C)$467,000
• D)$472,000

Understand the trends in substance abuse among students, focusing on specific substances.

Be aware of the demographics and statistics related to inhalant use.

Understand the prevalence of substance abuse testing among high school students in extracurricular activities.

Acknowledge the general prevalence of substance abuse problems in the population over 12 years old.

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Definitions:

Pure Monopolist

An entity that is the sole provider of a particular product or service in a market, without any competitors, effectively controlling the market.

Increase Price

A strategy or action where the selling price of goods or services is raised to generate higher revenue or cope with increased costs.

Volume of Sales

The total quantity of goods or services sold by a company within a specific period.

Pure Monopolists

A single seller in a market with no close substitutes for its product, giving it significant control over price.