The Following Transactions Occurred Last Year at Jackson Inc

question 116

Multiple Choice

The following transactions occurred last year at Jackson Inc. Based solely on the above information, the net cash flows from financing activities for the year on the statement of cash flows would be

• A) $31,000.
• B) $(59,000).
• C) $43,000.
• D) $379,000.

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Definitions:

Liability

Legal responsibilities or obligations that arise from actions, transactions, or circumstances.

Reasonable Care

A legal standard that denotes the degree of caution and concern an ordinarily prudent and rational person would use in similar circumstances.

Absolute Privilege

A special right, immunity, permission, or benefit given to certain individuals that allows them to make any statements about someone without being held liable for defamation for any false statement made, regardless of intent or knowledge of the falsity of the claim.

Defamation

The act of making false statements that harm someone's reputation.