Classification of Cash Flows and Transactions

question 58

Essay

Classification of cash flows and transactions.Give:(a) Three distinct examples of investing activities.(b) Three distinct examples of financing activities.(c) Three distinct examples of significant noncash transactions.(d) Two examples of transactions not shown on a statement of cash flows.

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Definitions:

Heirs

Individuals legally entitled to receive property from a deceased person's estate under state intestacy laws when there is no valid will.

Probate

A legal process through which a deceased person's will is validated, and their assets are distributed according to the will or state law if there's no will.

Intestate

The condition of having died without having made a valid will, leading to the distribution of assets according to state laws.

Real Property

Land and anything permanently attached to it, such as buildings, trees, and minerals, distinguished from personal property.