The Following Transactions Occurred Last Year at Jackson Inc

question 44

Multiple Choice

The following transactions occurred last year at Jackson Inc. Based solely on the above information,the net cash flows from financing activities for the year on the statement of cash flows would be

• A)$31,000.
• B)$(59,000).
• C)$43,000.
• D)$379,000.

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Definitions:

Incorporation Statute

Laws and regulations governing the process of establishing a corporation and outlining its legal status and structure.

Corporation by Estoppel

A principle where a company is treated as if it is incorporated for purposes of a particular transaction, even though it technically may not be, to prevent injustice or unfairness.

Corporation Names

Legal names under which corporations are registered to conduct business, required to be unique within the same jurisdiction.

Big Box

A big box refers to a large retail establishment, usually part of a chain, that offers a wide variety of merchandise in a single location, typically with a warehouse or department store design.