To the Nearest Thousand,estimated Ending Inventory Is

question 52

Multiple Choice

To the nearest thousand,estimated ending inventory is:

• A)$55,000.
• B)$52,000.
• C)$57,000.
• D)None of these answer choices are correct.

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Definitions:

Condensed Balance Sheets

Simplified financial statements presenting only the most essential information about a company's financial position.

Fixed Assets

Long-term tangible assets used in the operation of a business that are not likely to be converted to cash within one year.

Capital Expenditures

Financial resources dedicated by a corporation towards the acquisition, betterment, and maintenance of real assets, like real estate, industrial plants, or machinery.

Collections

The process of obtaining payment of invoices owed by customers.