The Following Data Is Provided for Last Year

question 26

Multiple Choice

The following data is provided for last year. Net income was $30,000. Current assets (other than cash) increased by $12,000 and current liabilities increased by $8,000. Under the indirect method, the cash flows from operating activities would be:

• A)$34,000.
• B)$10,000.
• C)$30,000.
• D)$26,000.

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Definitions:

Ethical Conduct

Refers to the practice of making decisions and taking actions that are guided by a set of moral principles and values.

Corporate Support

Assistance provided by businesses, often in the form of funding, resources, or services, to support various causes, projects, or communities.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Business Ethics

The study of appropriate business policies and practices with regard to potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, and corporate social responsibility.