Multiple Choice
Caroline, Inc. exchanged a tract of land it held in Mississippi for a tract of land owned by Rosalie Corporation located in Illinois. How is this transaction reported on Caroline, Inc.'s statement of cash flows?
A) As a cash inflow from investing activities and a cash outflow from financing activities.
B) As a cash inflow and a cash outflow from investing activities.
C) As a cash inflow and a cash outflow from financing activities.
D) This transaction is not reported in the body of the statement of cash flows.
Correct Answer:
Verified
Correct Answer:
Verified
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