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Orebic Department Store Had Net Income of $642,000 for the Year

Question 1

Multiple Choice

Orebic Department Store had net income of $642,000 for the year just ended. Orebic collected the following additional information to prepare its statement of cash flows for the year: Orebic Department Store had net income of $642,000 for the year just ended. Orebic collected the following additional information to prepare its statement of cash flows for the year:   Orebic uses the indirect method to prepare its statement of cash flows. What is Orebic's net cash provided (used)  by operating activities? A)  $518,000 B)  $588,000 C)  $838,000 D)  $870,000
Orebic uses the indirect method to prepare its statement of cash flows. What is Orebic's net cash provided (used) by operating activities?


A) $518,000
B) $588,000
C) $838,000
D) $870,000

Correct Answer:

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