California Inc

question 109

Multiple Choice

California Inc. ,through no fault of its own,lost an entire plant due to an earthquake on May 1,2016.In preparing its insurance claim on the inventory loss,the company developed the following data: Inventory January 1,2016,$300,000;sales and purchases from January 1,2016,to May 1,2016,$1,300,000 and $875,000,respectively.California consistently reports a 40% gross profit.The estimated inventory on May 1,2016,is:

• A)$302,500.
• B)$360,000.
• C)$395,000.
• D)$455,000.

Understand the concept and characteristics of minority groups.

Distinguish between race as a social construct and as a biological myth.

Recognize patterns of family structure across different racial and ethnic groups.

Understand the concepts of acculturation, assimilation, and cultural pluralism.

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Definitions:

Bond Premium

The amount by which the market price of a bond exceeds its principal amount or par value, often occurring when the bond's interest rate is higher than current market rates.

Effective Interest

The actual interest rate incurred on a loan or bond, reflecting the amortization of any fees or additional costs over the life of the loan.

Interest Revenue

Income earned from investments, loans, and other sources requiring the borrower to pay interest.

Bond Investments

Financial investments in debt securities issued by corporations or governments, which pay interest and are meant to be repaid at maturity.