Multiple Choice
The retained earnings account has a beginning balance of $321,975 and an ending balance of $356,413.Net income is $40,251.Which of the following statements is true?
A) $5,813 would be subtracted when determining cash flows from financing activities.
B) $40,251 would be added when determining cash flows from financing activities.
C) $34,438 would be added when determining cash flows from financing activities.
D) All of the answers are acceptable. Dividends would be reported as cash outflows from financing activities.
Correct Answer:
Verified
Correct Answer:
Verified
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