Perez Company Is Preparing Its Statement of Cash Flows Using

question 39

Multiple Choice

Perez Company is preparing its statement of cash flows using the indirect method. Refer to the following information: 1) Repayments on Long-Term Notes Payable $58,000
"2) New borrowing on Long-Term Notes Payable $19,000
Which of the following statements is accurate regarding the statement of cash flows?"

• A)Net cash used for financing activities will amount to $(39,000).
• B)Net cash used for investing activities will amount to $58,000.
• C)Net cash provided by financing activities will amount to $39,000.
• D)Net cash provided by investing activities will amount to $39,000.

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Definitions:

Current Liabilities

Short-term financial obligations that are due to be paid within one year or within the business's operating cycle.