Perez Company Is Preparing Its Cash Flow Statement Using the Indirect

question 88

Multiple Choice

Perez Company is preparing its cash flow statement using the indirect method.Refer to the following information:
1) Repayments on long-term bills payable $59,000
2) New borrowing on long-term bills payable $19,000

Which of the following statements is accurate regarding the cash flow statement?

• A) Net cash used for investing activities will amount to $59,000.
• B) Net cash used for financing activities will amount to $(40,000).
• C) Net cash provided by financing activities will amount to $40,000.
• D) Net cash provided by investing activities will amount to $40,000.

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