A List of Sources and Uses of Cash Are Given

question 61

Multiple Choice

A list of sources and uses of cash are given below. Indicate on the line provided whether each is an (O) operating, (I) investing, (F) financing, or a significant (N) noncash financing and investing activity.
-gain on sale of land

• A)(O)operating
• B)(I)investing
• C)(F)financing, or a significant
• D)(N)noncash financing and investing activity.

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Definitions:

Executor

The personal representative appointed to administer the estate of a person who died leaving a valid will.

Beneficiaries

Individuals or entities designated to receive the benefits or proceeds from insurance policies, trusts, wills, or other contracts.

Testator

An individual who has made a will or testament, in which they designate the distribution of their estate after their death.

Issue

Lineal descendants such as children and grandchildren. This category of persons includes adopted children.