Majorn Auto Parts Store Had Net Income of $84,000 for the Year

question 3

Multiple Choice

Majorn Auto Parts Store had net income of $84,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year: Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided by (used in) operating activities?

• A) $44,000
• B) $(56,000)
• C) $194,000
• D) $288,000

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Definitions:

Revocation

The act of withdrawing, cancelling, or annulling something previously granted, such as a contract, offer, or license.

Offer

A proposal made with the intent that, if accepted, it will become a legally binding agreement.

Revocation

The act of officially canceling or withdrawing something, such as a law, right, or offer.

Offeree

An offeree is a person or entity to whom an offer is made, typically in the context of contracting or other legal agreements.