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Which of the following factors could explain why Regal Industrial Fixtures had a negative net cash flow provided (used) by operations year, even though the cash on its balance sheet increased? a. The company repurchased 20% of its common stock. b. The company sold a new issue of bonds. C. The company made a large investment in new plant and equipment. X d. The company paid a large dividend. Oe. The company issued preferred stock. Ⓒ

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