Fluck Corporation's Balance Sheet and Income Statement Appear Below

question 28

Multiple Choice

Fluck Corporation's balance sheet and income statement appear below: The company sold equipment for $12 that was originally purchased for $5 and that had accumulated depreciation of $3. The company paid a cash dividend and it did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided by (used in) financing activities for the year was:

• A)$3
• B)$(4)
• C)$(21)
• D)$(22)

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Definitions:

Cash Discount

An incentive offered by sellers to encourage prompt payment, typically a percentage reduction from the invoice price if paid within a specified period.

Concrete Slab

A large, thick, flat piece of concrete, used as a base for construction projects such as floors, roads, or foundations.

Acquisition Cost

Acquisition Cost refers to the total cost incurred to obtain an asset, including the purchase price and all associated expenses such as delivery and installation.

Self-Constructed Asset

A self-constructed asset is an asset that is built and created by a company using its own workforce and resources rather than purchasing it pre-made from another source.