Last Year Burch Corporation's Cash Account Decreased by $6,000

question 30

Multiple Choice

Last year Burch Corporation's cash account decreased by $6,000. Net cash provided by investing activities was $13,000. Net cash used in financing activities was $30,000. On the statement of cash flows, the net cash flow provided by (used in) operating activities was:

• A)$(23,000)
• B)$(17,000)
• C)$(6,000)
• D)$11,000

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Definitions:

Closed Shop Agreement

A labor agreement requiring employees to be members of a specific union as a condition of being hired and to remain in the union for the duration of their employment.

Wages

Compensation provided to employees for their work, usually determined on the basis of hours, days, or the amount of work completed.

Labor Demanded

The total amount of labor hours that employers want to hire at a given wage rate, over a certain period.

Wagner Act

a foundational statute of US labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.