Connecticut,Inc

question 39

Multiple Choice

Connecticut,Inc.uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet: Additional information provided by the company includes the following:
1) Equipment was purchased for $69,000 with cash.
2) Equipment with a cost of $33,000 and accumulated depreciation of $7300 was sold for $46,000.
What was the amount of net cash provided by (used for) investing activities?

• A)$188,000
• B)$23,000
• C)$(188,000)
• D)$(23,000)

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Definitions:

Modern Companies

Businesses that leverage current technologies, adopt modern organizational practices, and align their strategies with the evolving needs of the global market.

Competitive Advantage

The unique attributes or conditions that allow an organization to outperform its competitors.

Credit Policies

The guidelines and terms that a company establishes to manage the offering of credit to its customers, including repayment terms and credit limits.

Discount

A reduction on the normal selling price of a product or service, often used as a sales incentive to increase demand or reward customer loyalty.