Mason Corporation Reported a Net Loss of $12,000 for the Year

question 62

Multiple Choice

Mason Corporation reported a net loss of $12,000 for the year ended December 31, 20X3. During the year, accounts receivable decreased $5,000, merchandise inventory increased $4,000, accounts payable increased by $13,000, and depreciation expense of $7,000 was recorded. During 20X3, operating activities using the indirect method was

• A) used net cash of $33,000.
• B) used net cash of $23,000.
• C) provided net cash of $9,000.
• D) provided net cash of $7,000.

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Definitions:

Diagram

A simplified drawing or plan that represents the components or workings of something, typically used to explain how it functions or is structured.

Freshwater

Water that has a low salt concentration, typically found in rivers, lakes, and streams, and essential for drinking, agriculture, and sanitation.

Diagram

A simplified drawing showing the appearance, structure, or workings of something, typically used to explain how it functions.

Aswan Dam

A significant engineering project on the Nile River in Egypt, built to control floods, provide increased water storage for irrigation, and generate electricity.