Statement of Cash Flows Crispy Corporation Has Net Cash Flow

question 37

Multiple Choice

Statement of Cash Flows Crispy Corporation has net cash flow from financing activities for the last year of $20 million.The company paid $5 million in dividends last year.During the year,the change in notes payable on the balance sheet was an increase of $2 million,and change in common and preferred stock was an increase of $3 million.The end of year balance for long-term debt was $45 million.What was their beginning of year balance for long-term debt?

• A)$15 million
• B)$20 million
• C)$25 million
• D)$35 million

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Definitions:

Highly Competitive

A market structure characterized by a large number of small firms, free entry and exit, and a high level of competition where no single firm can significantly influence market prices.

Simple Indicator

A quantitative measure that can be used to gauge or describe the performance or status of a particular phenomenon.

Sellers

Individuals or entities that offer goods or services for sale to buyers in the market.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and free entry and exit which leads to firms selling at the market price.