If a Gain of $11,000 Is Realized in Selling (For

question 75

Multiple Choice

If a gain of $11,000 is realized in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is

• A) $44,000
• B) $11,000
• C) $55,000
• D) $66,000

---

Definitions:

Ice Block

A large piece of ice, typically extracted from an ice field or frozen body of water.

Water Level

The height of the water surface in a given body of water, such as a river, lake, or ocean, which can vary due to various factors including precipitation and human intervention.

Tank

A large container or receptacle for storing liquids or gases, often used for water, fuel, or chemicals.

Global Sea Level

The average height of the Earth's ocean surface, used as a standard in measuring sea level rise or fall globally.