Statement of Cash Flows in 2008, Upper Crust Had Cash

question 85

Multiple Choice

Statement of Cash Flows In 2008, Upper Crust had cash flows from investing activities of ($250,000) and cash flows from financing activities of ($150,000) . The balance in the firm's cash account was $90,000 at the beginning of 2008 and $105,000 at the end of the year. What was Upper Crust's cash flow from operations for 2008?

• A) $15,000
• B) $105,000
• C) $400,000
• D) $415,000

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Definitions:

Unrealized Profits

Profits that have been generated on paper through investments but have not actually been realized through a sale or exchange.

Intercompany Transactions

Transactions between entities within the same group that are eliminated in the process of preparing consolidated financial statements to avoid double counting.

Wholly Owned

A company whose entire share capital is 100% owned by another company, making it a complete subsidiary.

Unrealized Profit

Profits that have been accounted for but not yet realized through a transaction, such as stocks that have increased in value but have not been sold.