Nola Limited Draws Up Its Statement of Cash Flows Using

question 18

Multiple Choice

Nola Limited draws up its statement of cash flows using the direct method. The company presents the following balances in its financial statements for the years ended 31 May 2019 and 31 May 2018:
$\begin{array}{lrr}& 2019 & 2018 \\& £ & £ \\\text { Depreciation for the year } & 38,415 & 33,655 \\\text { Accruals at the year end } & 10,135 & 9,429 \\\text { Total statement of profit or loss expenses } & 125,693 & 108,342 \\\text { for the year } & 7,655 & 8,480 \\\text { Prepayments at the year end } & 4,200 & 3,100\end{array}$ Based on these figures, what was the cash paid for expenses in the financial year ended 31 May 2019?

• A) £81, 547
• B) £84,609
• C) £84,647
• D) £89,947

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Definitions:

Consciousness

The awareness of oneself, one’s thoughts, feelings, and environment, distinct from but related to collective consciousness in its focus on the individual level of awareness.

Mind

The element of a person that enables them to be aware of the world and their experiences, to think, and to feel.

Generalized Other

A concept in sociology referring to the common behavioral expectations and attitudes of a society that individuals take into account in their actions.

Abstracted Individual

A theoretical concept that represents an individual as detached from social relations or context, often used in critiques of traditional economic and sociological theories.