If $10,000 Was Generated from Operations (Indirect Method), $4,000 Was

question 22

Short Answer

If $10,000 was generated from operations (indirect method), $4,000 was used for investing activities, and $6,000 was generated from financing activities, the cash balance __________.

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Definitions:

Interim Period

A span of time less than one fiscal year, but which typically consists of a quarter or a half year, used for financial reporting purposes.

Annual Tax Rate

The annual tax rate is the percentage at which an individual or corporation is taxed on their annual income.

Tax Expense

The total amount of taxes a company is obligated to pay to various governmental authorities, reflected in its financial statements.

Interim Reporting

The provision of financial statements covering periods shorter than a fiscal year, such as quarterly or semi-annually, to give a view of the company's ongoing financial position.