Use the Following Information for Questions 18-19

question 53

Multiple Choice

Use the following information for questions 18-19.
The statements of financial position for King Lear Corp. at the end of 2020 and 2019 are as follows: During 2020, land was acquired in exchange for common shares (which had a market value of $ 150,000 at the time) . All equipment purchased was for cash. Equipment costing $ 15,000 was sold for $ 6,000 cash; book value of the equipment at the time of sale was $ 12,000, and the loss was included in net income. Cash dividends of $ 30,000 were declared and paid during the year. King adheres to ASPE and uses the indirect method when preparing the statement of cash flows.
-The cash provided by (used in) investing activities was

• A) $ 39,000.
• B) $ (54,000).
• C) $ (60,000).
• D) $ (204,000).

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Definitions:

Humanistic Perspective

A psychological approach that emphasizes the study of the whole person and the uniqueness of individual experience and potential.

Self Encourages Selfishness

The concept that prioritizing oneself over others can lead to selfish behaviors, often at the expense of collective well-being.

Vague And Subjective

Description for something that is not clear or specific, and can be interpreted differently by different people.

Repression

A psychological defense mechanism where distressing thoughts, memories, or urges are unconsciously excluded from conscious awareness.