Illies Corporation's Comparative Balance Sheet Appears Below: the Company

question 125

Multiple Choice

Illies Corporation's comparative balance sheet appears below: The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $3,000 and its cash dividends were $4,000. The company did not issue any bonds payable or purchase any of its own common stock during the year. Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are:

• A) net cash provided by (used in) operating activities, $43,000; net cash provided by (used in) financing activities, $(6,000)
• B) net cash provided by (used in) operating activities, $46,000; net cash provided by (used in) financing activities, $(7,000)
• C) net cash provided by (used in) operating activities, $43,000; net cash provided by (used in) financing activities, $(7,000)
• D) net cash provided by (used in) operating activities, $46,000; net cash provided by (used in) financing activities, $(6,000)

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Definitions:

Physical Distribution

The activities involved in moving goods from the point of production to the point of consumption.

Mean Absolute Deviation

A statistical measure used to quantify the spread or variability in a data set, indicating the average absolute difference from the mean.

MAD

Mean Absolute Deviation, a measure used in statistics to quantify the average absolute dispersion or deviation from the mean or average.