Use the Following Information for Questions

question 5

Multiple Choice

Use the following information for questions.
Harlan Mining Co.has recently decided to go public and has hired you as an independent CPA.One statement that the enterprise is anxious to have prepared is a statement of cash flows.Financial statements of Harlan Mining Co.for 2011 and 2010 are provided below.
The following additional data were provided:

-The net cash provided (used) by financing activities is

• A)$(120,000).
• B)$24,000.
• C)$(216,000).
• D)$96,000.

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Definitions:

Monopoly Power

The ability of a single company or entity to control or dominate an industry or sector, often leading to limited competition and higher prices for consumers.

Vertical Merger

A merger in which a company at one level of the manufacturing-distribution system acquires a company at another level of the system.

Tying Arrangement

Illegal agreement in which the sale of one product is tied to the sale of another.

Antitrust Laws

Legislation enacted to promote competition and prevent monopolies by regulating anti-competitive business practices.