Exhibit 3-11 Refer to Exhibit 3-11

question 131

Multiple Choice

Exhibit 3-11 Refer to Exhibit 3-11.  Fill in blanks (A) and (B) respectively with "Exchange" or "No Exchange" to indicate whether or not exchange would take place at the given prices.

• A)Exchange; Exchange
• B)Exchange; No Exchange
• C)No Exchange; Exchange
• D)No Exchange; No Exchange

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Definitions:

Cash Flow

The total amount of money being transferred into and out of a business, especially as affecting liquidity.

Financing Activities

Transactions and events that affect the equity and long-term liabilities of a company, reflecting how it raises funds and repays its investors.

Operating Activities

Activities that relate to the primary operations of a company, such as selling products or services and administrative expenses.

Taxes

Compulsory charges imposed by governments on individuals or entities to fund public services and infrastructure.