Klutz Dance Studio Had Net Income of $167,000 for the Year

question 56

Multiple Choice

Klutz Dance Studio had net income of $167,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year: Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided (used) by operating activities?

• A)$95,000
• B)$137,000
• C)$185,000
• D)$207,000

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Definitions:

Laggards

Individuals or groups that are last to adopt an innovation or change, typically resistant to alterations in status quo.

Diffusion of Innovation

A concept aiming to understand the manner, reasoning, and speed at which cultures adopt new innovations and technological advancements.

Early Adopters

Individuals or organizations who use or purchase new products, technologies, or services soon after they are launched, often before the majority of consumers do.

Diffusion of Innovation

The process by which a new idea, product, or behavior spreads through a population over time.