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

question 73

Multiple Choice

Flynn Company reported a net loss of $30,000 for the year ended December 31, 2011.During the year, accounts receivable decreased $15,000, merchandise inventory increased $24,000, accounts payable increased by $30,000, and depreciation expense of $15,000 was recorded.During 2011, operating activities

• A)used net cash of $6,000.
• B)used net cash of $24,000.
• C)provided net cash of $6,000.
• D)provided net cash of $24,000.

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Definitions:

Density

The mass of a substance per unit volume, a critical factor in the behavior of geological materials.

San Andreas Fault

A major geological fault in California known for producing significant earthquakes, marking the boundary between the Pacific and North American tectonic plates.

Northridge Earthquake

A magnitude 6.7 earthquake that struck the Los Angeles area of California, USA, on January 17, 1994.

Divergent Plate Boundary

A region where two tectonic plates move away from each other, leading to the creation of new crust as magma rises to the surface.