The Balance Sheets of Butler, Inc

question 118

Multiple Choice

The balance sheets of Butler, Inc. and its 70%-owned subsidiary, Cassie Corp., which Butler has owned for several years are presented below: Additional information for 2021:Butler & Cassie's consolidated net income was $100,000.Cassie paid $10,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from operating activities was:

• A)$92,000.
• B)$27,000.
• C)$63,000.
• D)$29,000.
• E)$34,000.

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Definitions:

GDP

GDP, or Gross Domestic Product, denotes the overall monetary or market valuation of all completed goods and services that are produced within the territorial limits of a country during a specified time span.

Excise Tax

A tax levied on specific goods, such as alcohol and tobacco, typically intended to discourage their consumption or generate revenue.

Taxation

A system through which governments finance their expenditure by imposing charges on citizens and corporate entities.

Tax Burden

The measure of the total amount of taxes that an individual or business must pay.