Use This Information to Answer the Following Question

question 84

Multiple Choice

Use this information to answer the following question. Northbrook Corporation is preparing a statement of cash flows.The following transactions occurred during the year:
1) Sold machinery for $9,000 cash.
2) Purchased a building for $80,000 cash.
3) Issued $70,000 worth of stock to acquire an airplane.
4) Converted long-term bonds by issuing $100,000 worth of stock.
5) Declared and paid a $10,000 cash dividend.
-Transaction 4 would be found on the statement of cash flows in the

• A)cash flows from investing activities section.
• B)cash flows from operating activities section.
• C)cash flows from financing activities section.
• D)noncash investing and financing transactions section.

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Definitions:

Implicit Type Conversion

The automatic conversion of a value from one data type to another by the compiler when such conversion is necessary.

Assignment Operator

An operator used in programming to assign a value to a variable.

Assignment Statement

Is the act of allocating a particular value to a variable during program execution.

Accumulating Statement

A statement in programming that updates the value of a variable by adding a new value to it.