Use the Following Information for Questions 106 Through 108 $\bullet$ Net Income for 2015 Was $1,300,000

question 70

Multiple Choice

Use the following information for questions 106 through 108.
Jamison Corp.'s balance sheet accounts as of December 31, 2015 and 2014 and information relating to 2015 activities are presented below. Information relating to 2015 activities:
$\bullet$ Net income for 2015 was $1,300,000.
$\bullet$ Cash dividends of $400,000 were declared and paid in 2015.
$\bullet$ Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2015 for $360,000.
$\bullet$ A long-term investment was sold in 2015 for $320,000. There were no other transactions affecting long-term investments in 2015.
$\bullet$ 20,000 shares of common stock were issued in 2015 for $25 a share.
$\bullet$ Short-term investments consist of treasury bills maturing on 6/30/16.
-Net cash provided by Jamison's 2015 financing activities was

• A) $680,000.
• B) $320,000.
• C) $1,080,000.
• D) $1,480,000.

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Definitions:

Primary Group

A group with strong emotional ties and bonds that endure over time. This type of group tends to be more informal and intimate than other groups that individuals belong to. See also Secondary group.

Secondary Group

A group that is formal and impersonal, often organized around instrumental goals. See also Primary group.

Ethnocentrism

In intergroup relations, the tendency to regard one’s own group as the center of everything and to evaluate other groups in reference to it; the tendency to regard one’s in-group as superior to all out-groups.

Goal Isomorphism

The concept of having converging or similar objectives across different individuals, groups, or systems.