Use the Following Information for Questions 10-11

question 78

Multiple Choice

Use the following information for questions 10-11.
Duncan Corp. purchased a building, paying part of the purchase price in cash and issuing a mortgage note payable to the seller for the balance.
-In a statement of cash flows, what amount is included in financing activities for the above transaction?

• A) the cash payment
• B) the full purchase price
• C) zero (but disclosed in the notes)
• D) the amount mortgaged

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Definitions:

Planning Decision

A determination made in the process of urban or regional planning, regarding the development or use of land.

Provincial Body

A governmental or regulatory authority that operates at the provincial level to oversee and manage regional affairs.

Appeal

The process of requesting a higher court to review and change the decision of a lower court.

Licensing

The granting of permission by an authoritative body to an individual or organization to engage in certain activity or use certain property.