Each of the Following Is an Example of a Significant

question 83

Multiple Choice

Each of the following is an example of a significant noncash activity except

• A) conversion of bonds into common stock.
• B) exchanges of plant assets.
• C) issuance of debt to purchase assets.
• D) stock dividends.

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Definitions:

Continental Army

The revolutionary war army authorized by the Continental Congress in 1775, led by General George Washington, to fight against British rule during the American Revolution.

Declaration of Independence

A seminal document adopted on July 4, 1776, by the thirteen American colonies declaring their independence from British rule.

Treaty of Paris

The 1783 agreement that ended the Revolutionary War, recognizing American independence and granting significant land territories to the United States from Great Britain.