Multiple Choice
Southern Industries Corporation uses the direct method when preparing its statement of cash flows. Southern Industries sold equipment with a book value of $15,000 at a loss of $2,000. The amount to be reported on the statement of cash flows under "proceeds from the sale of plant assets" is:
A) $15,000.
B) $17,000.
C) $ 2,000.
D) $13,000.
Correct Answer:
Verified
Correct Answer:
Verified
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