In 2012, Kahoka Company Paid $10,000 to Satisfy Its 2011

question 46

Multiple Choice

In 2012, Kahoka Company paid $10,000 to satisfy its 2011 tax liability, $64,000 for its 2012 tax liability, and still owed taxes payable of $16,000 at year-end. How much should Kahoka report as a cash outflow for tax payments on the 2012 statement of cash flows?

• A) $74,000
• B) $54,000
• C) $80,000
• D) $90,000

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Definitions:

Legal Perspective

This term involves looking at situations, issues, or concepts from the standpoint of laws and legal principles.

Public Interest

The welfare or well-being of the general public, often used as a consideration in law, policy-making, and public projects.

NLRA

The National Labor Relations Act, a foundational statute of US labor law which protects the rights of employees to engage in collective bargaining and to unionize.

Organizing Delays

Deliberate or unintended postponements in the process of forming or expanding labor unions within workplaces.