Statement of Cash Flows Nickolas's Nut Farms,Inc

question 89

Multiple Choice

Statement of Cash Flows Nickolas's Nut Farms,Inc.has net cash flows from operating activities for the last year of $25 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 a decrease of $4 million,change in accrued wages and taxes was a decrease of $1 million and change in accounts payable was a decrease 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

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Definitions:

Emergency Powers

Special, temporary powers granted to governments to handle crises or emergencies, allowing deviations from normal procedures or laws.

Express Authority

The explicit power given by a party to someone, allowing them to act on the party's behalf, often found in legal and organizational contexts.

Implied Authority

Authority of an agent that is not explicitly stated but is implied by the agent's actions or the circumstances of the task.

Terminate

To bring something to an end or conclude its operation.