Stojko Corporation Had a Net Decrease in Cash of $10,000

question 124

Multiple Choice

Stojko Corporation had a net decrease in cash of $10,000 for the current year. Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000. What amount of cash was provided (used) in operating activities?

• A) $100,000 provided.
• B) $(100,000) used.
• C) $80,000 provided.
• D) $(80,000) used.
• E) $(10,000) used.

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Definitions:

General Incorporation Law

Legal statutes that facilitate the establishment of corporations by providing standardized procedures and requirements for incorporation.

For-Profit Corporations

Businesses that are established to generate profit for their owners, with revenues exceeding costs.

Laws

The system of rules created and enforced through social or governmental institutions to regulate behavior.

Common Law

A body of legal principles that derives from court decisions over time rather than from statutes or constitutions, emphasizing precedent in judicial decisions.