The Most Recent Balance Sheet and Income Statement of Penaloza

question 107

Multiple Choice

The most recent balance sheet and income statement of Penaloza Corporation appear below: The company paid a cash dividend of $18. It did not dispose of any property, plant, and equipment. The company did not retire any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) financing activities for the year was:

• A)($18)
• B)$5
• C)($5)
• D)$8

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Definitions:

Majority Rule Voting

Majority rule voting is a decision-making process where the option that receives more than half of the votes cast is chosen.

Majority-Rule Voting

A voting system where the option that receives more than half of the votes wins.

Logrolling

A practice in politics where two or more parties agree to vote for each other's proposed bills or policies to ensure mutual benefit.

Transfer Payments

Cash payments made by the government to people who do not supply goods, services, or labor in exchange for these payments. They include Social Security benefits, veterans’ benefits, and welfare payments.