The Following Events Occurred Last Year for the Cart Corporation

question 99

Multiple Choice

The following events occurred last year for the Cart Corporation: Based solely on the above information, the net cash provided by financing activities for the year on the statement of cash flows was:

• A)$12,000
• B)$24,000
• C)$20,000
• D)$49,000

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Definitions:

Fixed Expenses

Costs that do not fluctuate with changes in production level or sales volume, such as rent and salaries.

Absorption Costing

A method of costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead in the cost of a product.

Net Operating Income

The total operating profit of a company after all operating expenses, excluding taxes and interest expenses, have been deducted from total revenue.

First Year

Refers to the initial period or the first 12 months of a specific timeframe, often used in the context of financial or operational performance.