The Net Income Reported on the Income Statement for the Current

question 8

Multiple Choice

The net income reported on the income statement for the current year was $245000. Depreciation was $40000. Account receivable and inventories decreased by $12000 and $35000 respectively. Prepaid expenses and accounts payable increased respectively by $1000 and $8000. How much cash was provided by operating activities?

• A) $296000
• B) $339000
• C) $323000
• D) $311000

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Definitions:

Job Profit

The financial gain obtained from completing a specific project or job, calculated as the difference between the revenue generated and the costs incurred.

Shortest Processing Time

A scheduling priority rule that sequences jobs based on the shortest time required to complete them, aiming to minimize completion time and improve efficiency.

Dispatching Rules

Guidelines used in scheduling to determine the order in which jobs should be assigned to resources, aiming to optimize efficiency and meet deadlines.

Sequence of Jobs

The order in which a set of tasks or jobs is processed or executed in a production or computing environment.