A corporation prepared its statement of cash flows for the year.The following information is taken from that statement: What is the amount of net cash provided by (used in)financing activities?

A)$15,400
B)($3,300)
C)($15,400)
D)$3,300

Question

A corporation prepared its statement of cash flows for the year.The following information is taken from that statement: What is the amount of net cash provided by (used in)financing activities?

A)$15,400 
B)($3,300) 
C)($15,400) 
D)$3,300

Quizplus · Accepted Answer

The statement of cash flows shows that the corporation had -$15,400 net cash used in financing activities, indicating that they had more cash outflows than inflows from financing activities during the year. Option A and D are incorrect because they both show positive amounts, indicating net cash inflows from financing activities. Option B is incorrect because it shows a negative amount twice, which doesn't make logical sense.

A Corporation Prepared Its Statement of Cash Flows for the Year.The