What Is the Total Amount of Inventory That Would Appear

question 47

Multiple Choice

What is the total amount of inventory that would appear on Seek's Consolidated Balance Sheet as at December 31, 2016?

• A) $129,000
• B) $132,000
• C) $312,000
• D)$360,000

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Definitions:

Sales On Account

Transactions where revenue is recorded when a sale is made but the cash is collected at a later date.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations by dividing current assets by current liabilities.

Financial Data

Information related to financial transactions, performance, and status of an entity.

Working Capital

The gap between a business's present assets and liabilities, signifying its short-term financial stability and operational functionality.