Pare Company Reported a Net Loss of $30,000 for the Year

question 47

Multiple Choice

Pare Company reported a net loss of $30,000 for the year ended December 31, 2014. During the year, accounts receivable decreased $15,000, merchandise inventory increased $25,000, accounts payable increased by $30,000, and depreciation expense of $20,000 was recorded. During 2014, operating activities

• A)used net cash of $10,000.
• B)used net cash of $25,000.
• C)provided net cash of $10,000.
• D)provided net cash of $25,000.

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Definitions:

Humans

Homo sapiens, the only extant members of the hominid family, characterized by their use of language, ability to create complex tools, and establishment of social structures.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, including natural, social, and built factors.

Timber

Wood that has been processed into beams and planks, a stage in the process of wood production.

Crops

Cultivated plants or agricultural produce, such as grain, vegetables, or fruit, considered as a group.