Harrison Company Uses the Indirect Method to Prepare Its Statement

question 23

Multiple Choice

Harrison Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for the year 2014: 1) Retained Earnings, beginning balance, $138,000
2) Retained Earnings, ending balance, $125,000
"3) Company reported net loss of $13,000 for the year.
What was the amount of dividends declared during the year?"

• A)$4,000
• B)$2,000
• C)Zero
• D)$3,000

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Definitions:

Societal Expectations

The set of standards or norms that society deems acceptable for its members' behaviors and attitudes.

Abnormal Behavior

Actions, thoughts, or feelings that are considered outside the statistical norm or that deviate significantly from societal expectations and can affect functionality.

Social Relationships

Connections or associations between two or more individuals, based on social context, which affects their interactions and behavior.

Systems Approach

A perspective in understanding complex problems or situations by examining the interactions and relationships among the parts that compose the entirety of the system.