Shimko Corporation's Most Recent Comparative Balance Sheet and Income Statement

question 27

Multiple Choice

Shimko Corporation's most recent comparative balance sheet and income statement appear below: The company paid a cash dividend of $19 and it did not dispose of any property,plant,and equipment.The company did not issue 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) operating activities for the year was:

• A)$23
• B)$133
• C)$157
• D)$87

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Definitions:

Activity Variance

The difference between planned activity levels and actual activity levels, often used in budgeting and forecasting to analyze performance.

Budgeting

The process of creating a plan to spend your money, outlining expected revenues and expenses for a future period.

Actual Results

The real outcomes or results of business activities, measured in terms of performance, revenue, or profits, compared against planned or forecasted outcomes.

Shipping Container

A large, standard-sized metal box used for the transport of goods by sea or land.