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Upon review of Mack's Statement of Cash Flows, the following was noted: Cash flows from operating activities $15,000 Cash flows from investing activities 70,000 Cash
Upon review of Mack's Statement of Cash Flows, the following was noted:
Cash flows from operating activities | $15,000 |
Cash flows from investing activities | 70,000 |
Cash flows from financing activities | (50,000) |
From this information, the most likely explanation is that Mack is
a. | using cash from operations and selling long-term assets to pay back debt. | |
b. | using cash from operations and borrowing to purchase long-term assets. | |
c. | using its profits to expand growth. | |
d. | using cash from investors to provide for operations |
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