Nickolas's Nut Farms, Inc

question 61

Multiple Choice

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:

Mind, Body, Spirit

A holistic approach to health that emphasizes the interconnection and balance between the mental, physical, and spiritual aspects of an individual.

Closed System

A physical system that does not exchange matter with its surroundings, though it may exchange energy.

Multiple Injuries

The occurrence of more than one injury in an individual, often resulting from accidents or violence, which may complicate treatment and recovery.

Data Collection

The process of gathering and measuring information from various sources to get a complete and accurate picture of an area of interest.