Minette Company Reported Net Income of $200,000 for the Year

question 160

Multiple Choice

Minette Company reported net income of $200,000 for the year ended December 31, 2017. During the year, inventories decreased by $40,000, accounts payable decreased by $60,000, depreciation expense was $45,000 and a gain on disposal of equipment of $15,000 was recorded. Net cash provided by operating activities in 2017 using the indirect method was

• A)$280,000.
• B)$210,000.
• C)$245,000.
• D)$240.000.

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Definitions:

Full

Typically refers to the maximum capacity or entire amount of something, without lacking or being partial.

Partial

Relating to or affecting only a part; not total or complete.

Quiet Enjoyment

A legal principle that assures the possessor of a property or tenant the right to use the property without interference from the landlord or others with superior title.

Eviction

The legal process through which a tenant is forced to leave the property they are renting.