Net income was $61,000 for the year. The accumulated depreciation balance increased by $14,000 over the year. There were no sales of fixed assets or changes in noncash current assets or liabilities. Under the indirect method, the cash flow from operations is $47,000
a. True
b. False
Indicate whether the statement is true or false
False
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Enrobe Textiles, Inc., is a small clothing manufacturer that produces men’s polo shirts and pants. The production manager, Zhang Wei, uses two primary resources: sewing machine hours and cutting machine hours. For next month’s production of shirts and pants, Mr. Wei can schedule up to 300 hr of sewing machine time and up to 240 hr of cutting machine time. Production of each polo shirt requires 3.0 hr of sewing time and 1.0 hr of cutting time. Each pair of pants requires 2.0 hr of sewing time and 2.0 hr of cutting time. Based on the analysis of cost and sales figures, Mr. Wei estimates that each polo shirt will yield a profit of $5, and each pair of pants will generate a profit of $7. Given this scenario, what will be the combination of shirts and pants that will yield maximum profits?
A. 30 pants and 105 shirts B. 210 pants and 45 shirts C. 80 pants and 55 shirts D. 120 pants and 185 shirts
According to research by the Ethics Resource Center, which of the following factors is most important for organizations trying to establish strong ethical cultures?
A. A clear and accurate code of ethics B. A committee that monitors and punishes unethical behavior C. Supervisors who demonstrate ethical behavior D. Employees who recognize the importance of ethical behavior
A small business owner may want to exit the business because
A. other opportunities are available. B. the business has done very well but the future does not hold the same potential for similar success. C. all the assets are in the business. D. all of these.
Sugar, Inc. sells $749,300 of goods during the year that have a cost of $538,600. Inventory was $31,183 at the beginning of the year and $35,438 at the end of the year.What is the inventory turnover ratio? (Round your final answer to 1 decimal place.)
A. 6.3 times B. 22.5 times C. 16.2 times D. 17.3 times