Majorn Auto Parts Store Had Net Income of $81,000 for the Year

question 204

Multiple Choice

Majorn Auto Parts Store had net income of $81,000 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) $41,000
• B) $(53,000)
• C) $185,000
• D) $279,000

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Definitions:

Sample Covariance

A measure of the degree to which two variables change together for a sample of a population, indicating their linear relationship.

Cov (x,y)

Represents the covariance between two variables \(x\) and \(y\), measuring how changes in one variable are associated with changes in another.

Covariance

A statistical measure that indicates the extent to which two variables change together; if the greater values of one variable mainly correspond with the greater values of the other variable, and the same holds for the lesser values, the covariance is positive.

Slope

A measure of the steepness or incline of a line, representing the ratio of the change in the y-value to the change in the x-value.