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:

Larceny

The unlawful taking of personal property from another person with the intent to permanently deprive them of it.

Knowledge

Understanding, awareness, or familiarity gained through experience or education.

Consent

Permission for something to happen or agreement to do something.

Security Breach

An incident that results in unauthorized access to data, applications, services, networks, or devices by bypassing their underlying security mechanisms.