Shippers Ltd Made a Net Operating Loss of $42 000

question 38

Multiple Choice

Shippers Ltd made a net operating loss of $42 000.Depreciation expense was $80 000 and loss on sale of vessels was $170 000.Accounts receivable increased by $65 000 and inventory decreased by $18 000.Accounts payable increased by $160 000 and expenses payable decreased by $1000.What was the cash flow from operations?

• A) $404 000
• B) $320 000
• C) ($20 000)
• D) None of the answers provided

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Definitions:

"Blank Slate"

The theory that individuals are born without built-in mental content, and that all knowledge comes from experience or perception.

Genetic Inheritance

The process through which genes and traits are passed down from parents to their offspring, determining various physical and sometimes behavioral characteristics.

Nature and Nurture

The debate concerning the relative contributions of genetic inheritance (nature) and environmental factors (nurture) to human development.

Locke

Refers to John Locke, a 17th-century English philosopher who proposed the theory of Tabula Rasa, suggesting that individuals are born without built-in mental content and that all knowledge comes from experience and perception.