A Transaction That Would Not Appear in a Statement of Cash

question 23

Multiple Choice

A transaction that would not appear in a statement of cash flows is:

• A) the creation of an allowance for doubtful debts.
• B) the upward revaluation of an asset.
• C) a bonus issue of shares.
• D) all of the above.

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Definitions:

Quasi-contract

An obligation imposed by law in the absence of an agreement to prevent unjust enrichment.

Freedom of Contract

The principle that individuals have the liberty to freely enter into agreements and contracts without undue government interference.

Creators’ Obligations

Duties and responsibilities that creators, such as authors, artists, and designers, owe to their clients, sponsors, or the public, which may include originality, quality, and copyright adherence.

Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise which the promisee relied on, leading to a detriment.