The Change in Each of Kendall Corporation's Balance Sheet Accounts

question 48

Multiple Choice

The change in each of Kendall Corporation's balance sheet accounts last year follows:

Kendall Corporation's income statement for the year was:

There were no sales or retirements of property, plant, and equipment and no dividends paid during the year. The company pays no income taxes and it did not purchase any long-term investments, issue any bonds payable, or repurchase any of its own common stock. The net cash provided by operating activities on the statement of cash flows is determined using the direct method.
-The net cash provided (used) by investing activities would be:

• A)$15,000
• B)$(10,000)
• C)$(8,000)
• D)$5,000

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Definitions:

Civil Liberty

The freedoms and rights that individuals have to ensure their ability to participate fully in the civil and political life of their society without discrimination or repression.

Mackay Radio

The Mackay Radio decision (1938) by the U.S. Supreme Court affirmed the right of employers to permanently replace striking workers, impacting labor relations and the balance of power between employers and unions.

Economic Strike

A strike action undertaken by workers to achieve better wages, hours, and working conditions, as opposed to strikes for political reasons.

NLRA Section 8(a)(3)

Part of the National Labor Relations Act that outlines unfair labor practices by employers, particularly around discrimination against employees for union involvement.