Spettel Corporation's Comparative Balance Sheet Appears Below: the Company's

question 41

Multiple Choice

Spettel Corporation's comparative balance sheet appears below: The company's net income (loss) for the year was $11,000 and its cash dividends were $2,000.
-Which of the following classifications of changes in balance sheet accounts as sources and uses is correct?

• A) The change in Property, Plant, and Equipment is a source; The change in Long-Term Debt is a source
• B) The change in Property, Plant, and Equipment is a use; The change in Long-Term Debt is a source
• C) The change in Property, Plant, and Equipment is a source; The change in Long-Term Debt is a use
• D) The change in Property, Plant, and Equipment is a use; The change in Long-Term Debt is a use