Max Is Preparing a Contract Between His Company and One

question 20

Multiple Choice

Max is preparing a contract between his company and one in Mexico. What should he do when citing numbers in the contract?

• A) Use figures for all dates for clarity.
• B) Use American currency figures.
• C) Use figures instead of spelling them out.
• D) Do all of the above.

---

Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.

Goods Available for Sale

The total quantity of goods that a company has at its disposal to sell during a certain period, including both its initial inventory and purchases made.

Inventory Safeguarding

Measures and controls implemented by a business to protect its inventory from loss, theft, or damage.

Locked Warehouse

A secured storage facility used to hold goods or collateral, often for financial arrangements or until customs duties are settled.