Phoenix Rising Corporation Sold an Unused Building for $177,000

question 50

Multiple Choice

Phoenix Rising Corporation sold an unused building for $177,000. The building's book value on the date of sale was $172,000. How will this transaction appear in a statement of cash flows prepared using the indirect method?

• A)A $172,000 increase in investing activities and $5,000 increase in operating activities
• B)A $172,000 increase in investing activities and $5,000 decrease in operating activities
• C)A $177,000 increase in investing activities and $5,000 increase in operating activities
• D)A $177,000 increase in investing activities and $5,000 decrease in operating activities

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Definitions:

Gly-His-Lys

A tripeptide consisting of glycine, histidine, and lysine, which is often studied for its role in wound healing and other biological functions.

Codons

Sequences of three nucleotides in mRNA that code for specific amino acids during protein synthesis or signal the termination of protein elongation.

Codon Sequence

A specific sequence of three nucleotides in mRNA that specifies the addition of a particular amino acid to a protein chain during biosynthesis.

Amino Acid Sequence

The amino acid sequence is the order in which amino acids are linked together via peptide bonds to form a protein.