Fina's Faucets, Inc

question 43

Multiple Choice

Fina's Faucets, Inc. has net cash flows from operating activities for the last year of $17 million. The income statement shows that net income is $15 million and depreciation expense is $6 million. During the year, the change in inventory on the balance sheet was an increase of $4 million, change in accrued wages and taxes was an increase of $1 million and change in accounts payable was an increase of $1 million. At the beginning of the year the balance of accounts receivable was $5 million. What was the end of year balance for accounts receivable?

• A) $2 million
• B) $3 million
• C) $7 million
• D) $9 million

---

Definitions:

Industrial Unions

Organizations that represent all workers, skilled and unskilled, in a particular industry.

Craft Unions

Labor unions that represent workers specialized in a particular craft or trade, focusing on securing better wages, hours, and working conditions for their members.

Industry

Sectors of the economy concerned with the production and manufacture of goods, often categorized into heavy, light, and high-tech segments.