Negligence and fraud are easy to prove in a mass production world.?
Indicate whether the statement is true or false
False
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Pipe Corporation reported cost of goods sold of $250,000 for 2018. It also reported an increase in inventory for the year of $30,000, and an increase in accounts payable of $24,000. Pipe would report cash paid to suppliers in 2018 under the direct method for cash flows of:
A. $304,000. B. $256,000. C. $280,000. D. $250,000.
Defalcation is another word for financial fraud
Indicate whether the statement is true or false
What is it called when we perform tasks for our own innate satisfaction?
A. determined B. intrinsic motivation C. competence D. meaningfulness
A company has goods available for sale of $250,000 at retail and $175,000 at cost. It also had sales of $210,000 for the period. What is the estimated cost of ending inventory, using the retail method?
a. $38,000 b. $28,000 c. $40,000 d. $63,000