In ________ pricing, companies set the prices that consumers pay for products

The net income reported on the income statement for the current year was $245,000. Depreciation was $40,000. Accounts Receivable and Inventories decreased by $12,000 and $35,000, respectively. Prepaid Expenses and Accounts Payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities?

A. $296,000 B. $323,000 C. $339,000 D. $311,000

Reversing entries make possible the entering of the transactions of the succeeding accounting period in a routine manner

a. True b. False Indicate whether the statement is true or false