Zoe's Dog Biscuits, Inc

question 126

Multiple Choice

Zoe's Dog Biscuits, Inc. has net cash flows from operating activities for the last year of $226 million. The income statement shows that net income is $150 million and depreciation expense is $85 million. During the year, the change in inventory on the balance sheet was an increase of $14 million, change in accrued wages and taxes was an increase of $15 million and change in accounts payable was an increase of $10 million. At the beginning of the year the balance of accounts receivable was $45 million. What was the end of year balance for accounts receivable?

• A) $20 million
• B) $25 million
• C) $45 million
• D) $65 million

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Definitions:

Good Faith

The sincere intention to be fair, open, and honest, regardless of the outcome of the interaction.

Enforceable Contract

A legally binding agreement between parties that can be enforced by law if not fulfilled as agreed.

Misrepresentation

The act of providing false or misleading information, often with the intent to deceive others during agreements or transactions.

Allegorical Statement

An expression that uses symbolic figures, actions, or representations to convey a deeper moral or spiritual meaning.