If Cost of Sales Is $500 000, Inventory Has Increased

question 9

Multiple Choice

If cost of sales is $500 000, inventory has increased by $8000 and creditors have decreased by $15 000 what is the amount of cash paid for the purchase of goods for resale?

• A) $500 000
• B) $507 000
• C) $523 000
• D) $493 000

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Definitions:

Flashbulb Memory

A vivid and detailed memory of a surprising and emotionally significant event, which can be recalled with high accuracy.

Autobiographical Memory

The aspect of memory that stores information regarding oneself, including personal experiences, emotions, and facts.

Reconstruct

The process of rebuilding or forming an object, concept, or cognitive representation after its analysis or deconstruction.