What Is the Overall Change in Cash Resulting From: $300

question 102

Multiple Choice

What is the overall change in cash resulting from: $300 increase in inventories,$150 increase in accounts payable,$120 decrease in accounts receivable,$60 decrease in other current assets,$150 decrease in other current liabilities?

• A) −$120
• B) −$240
• C) $180
• D) $120

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Definitions:

For AGI Deduction

Deductions that are subtracted from gross income to arrive at adjusted gross income, potentially lowering taxable income.

Health Insurance Premiums

The amount paid periodically to a health insurer for coverage of medical expenses.

Early Withdrawal Penalty

A fee charged for withdrawing funds from an investment or retirement account before a specified age or period.

Form 1099-INT

A tax form in the United States used to report interest income from banks and other financial institutions.