A Gain on the Sale of a Plant Asset in the Ordinary

question 11

Multiple Choice

A gain on the sale of a plant asset in the ordinary course of business should be presented in a statement of cash flows prepared using the indirect method as

• A) a cash inflow from investing activities.
• B) a cash inflow from financing activities.
• C) a deduction from net income.
• D) an addition to net income.

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Definitions:

Intellectual Functioning

A measure of a person's overall mental ability or intelligence.

Information Processing

The process of taking in information, storing it, and then using it, akin to the way a computer processes data.

Fluid Intelligence

The ability to think abstractly, reason quickly, and solve problems in novel situations, independently of acquired knowledge.

The Bell Curve

A book that argues intelligence is a significant predictor of personal outcomes such as income, job performance, and education, and discusses variations across different racial and ethnic groups.