Klein Corp

question 188

Multiple Choice

Klein Corp.acquired land by issuing its common stock.How should this transaction be disclosed when a statement of cash flows is prepared?

• A) In a supplemental schedule of noncash investing and financing activities or in a note.
• B) The acquisition of land should be reported as an investing activity and the issuance of the stock as a financing activity.
• C) Using the master T-account approach.
• D) The transaction does not need to be disclosed.

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