The Following Information Pertains to Inventory Held by a Company

question 2

Multiple Choice

The following information pertains to inventory held by a company at December 31, 2013. What amount of inventory should be reported under U.S. GAAP?

• A) $25,000.
• B) $21,000.
• C) $20,000.
• D) $16,800.
• E) $16,000.

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Definitions:

Quality

The affirmative or negative character of a categorical proposition.

Quantity

The particular or universal character of a categorical proposition.

Standard Quantifiers

Logical operators that specify the quantity of specimens in the domain of discourse that satisfy an open sentence, commonly "all" or "some."

Quantifier

In logic and mathematics, quantifiers express the quantity of specimens that satisfy a condition, typically expressed as "all," "some," or "none."