The Following Information Is Provided for Identikit Ltd for the Period

question 61

Multiple Choice

The following information is provided for Identikit Ltd for the period ended 30 June 2015:
$$\begin{array} { | l | r | } \hline & \$ 0 \\\hline \text { Cost of goods sold for the year } & 460 \\\hline \text { Discounts received for early payment to suppliers } & 40 \\\hline \text { Opening balance of trade creditors } & 100 \\\hline \text { Closing balance of trade creditors } & 120 \\\hline \text { Opening balance of inventory } & 78 \\\hline \text { Closing balance of inventory } & 160 \\\hline \text { Sales for the year } & 1200 \\\hline \text { Discounts provided to customers for early payment } & 120 \\\hline \text { Sales returns } & 120 \\\hline \text { Opening balance of accounts receivable } & 300 \\\hline \text { Closing balance of accounts receivable } & 270 \\\hline \text { Bad debts expense } & 65 \\\hline \text { Opening balance of tax payable } & 60 \\\hline \text { Closing balance of tax payable } & 30 \\\hline \text { Tax expense } & 15 \\\hline \text { Interest expense } & 27 \\\hline \text { Dividends paid } & 73 \\\hline\end{array}$$
All transactions are in cash unless otherwise indicated.What is the net cash flow from operating activities for the period?

• A) Cash inflow $371 000
• B) Cash inflow $298 000
• C) Cash outflow $554 000
• D) Cash inflow $530 000

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Definitions:

Primary-process Thought

A Freudian concept involving primitive, instinctual thought patterns that are illogical and driven by the unconscious mind.

Ego

In psychoanalytic theory, the part of the mind that mediates between the conscious and the unconscious and is responsible for reality testing and a sense of personal identity.

Sexual Longings

Intense desires or yearnings for sexual intimacy and connection.

Personality Theory

A system of concepts and assumptions about human behavior and personality structure that helps explain and predict individual differences.