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

question 152

Multiple Choice

Minette Company reported net income of $200,000 for the year ended December 31, 2022.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 2022 using the indirect method was

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

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Definitions:

Correlation Coefficient

A statistical index measuring the strength and direction of a linear relationship between two variables.

Average Error

A statistical measure that averages the absolute differences between the observed values and the values predicted by a model.

Independent Variable

The variable that is manipulated in an experiment to observe its effect on the dependent variable.

Dependent Variable

A variable in an experiment or model that is expected to change in response to changes in independent variables.