The Following Information Applies to the Questions Displayed Below

question 59

Multiple Choice

The following information applies to the questions displayed below
Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.)

1) Acquired $950 cash from the issue of common stock.
2) Borrowed $420 from a bank.
3) Earned $650 of revenues.
4) Paid expenses of $250.
5) Paid a $50 dividend.

During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)

1) Issued an additional $325 of common stock.
2) Repaid $220 of its debt to the bank.
3) Earned revenues of $750.
4) Incurred expenses of $360.
5) Paid dividends of $100.

-What is the net cash inflow from operating activities that will be reported on Packard's statement of cash flows for Year 1?

• A)$400
• B)$650
• C)$350
• D)$820

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Definitions:

Empathy

The understanding of what another individual feels.

Autonomous Cooperation

A concept where individuals or systems operate independently but collaborate towards a common goal without centralized control.

Preconventional Morality

The first level in Kohlberg's theory of moral development, where behavior is guided by punishment avoidance and self-interest.

Conventional Morality

A stage in moral development where individuals make decisions based on societal norms and laws.