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ABC Co's Petty Cash Receipts Indicate the Following Expenditures for the the End

Question 96

Multiple Choice

ABC Co.'s petty cash receipts indicate the following expenditures for the end of October:? Office supplies.....................$490
Miscellaneous selling expense.................$300
Miscellaneous administrative expense....$120
What is the cumulative effect of these transactions on the statement of cash flows?


A) $420 decrease in financing activities
B) $490 increase in operating activities
C) $910 decrease in operating activities
D) No effect on the statement of cash flows

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