(Appendix 14A) the Most Recent Balance Sheet and Income Statement

question 31

Multiple Choice

(Appendix 14A) The most recent balance sheet and income statement of Oldaker Corporation appear below:
The company paid a cash dividend of $42 and it did not dispose of any property, plant, and equipment. The company did not retire any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
-The net cash provided by (used in) financing activities for the year was:

• A) $(42)
• B) $3
• C) $11
• D) $(28)

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Definitions:

Drawer

The person who writes or signs a bill of exchange, such as a check, thus creating a financial obligation.

Sight Draft

A financial instrument that is payable on presentation or sight to the drawer.

Payable

Refers to debts or obligations of an individual or company that are due to be paid to creditors.

Acknowledged

Recognized or accepted as valid or true by a person or entity.