Tracy Company Reports the Following in Its Statement of Cash

question 74

Multiple Choice

Tracy Company reports the following in its statement of cash flows:
$\begin{array}{lr}\text { Net income } & \$ 1,000 \\\text { Depreciation and amortization } & 350 \\\text { Decrease (Increase) in accounts receivable } & (10) \\\text { Decrease (Increase) in inventory } & 200 \\\text { Decrease (Increase) in prepaid expenses } & 80 \\\text { Increase (Decrease) in trade payables } & (300) \\\text { Increase (Decrease) in taxes payable } & 75 \\\text { Cash flow from operations } & \$ 1.395\end{array}$

-If Tracy shows depreciation expense of $275 in its income statement, cash paid for amortization is:

• A)$0
• B)$75
• C)$525
• D)not determinable

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Definitions:

Diversity

Differences among people in terms of identity, age, sex, race, physical ability, ethnicity, religious beliefs, values and mores, sexual orientation, and personality.

Identities

The qualities, beliefs, personality, looks, and expressions that make a person (or group) different from others.

Ethnicity

A category of people who identify with each other based on shared ancestral, social, cultural, or national experiences.

Sexual Orientation

An enduring pattern of emotional, romantic, or sexual attractions to men, women, both sexes, neither sex, or another sex, as well as a person's sense of identity based on those attractions.