Multiple Choice
The Flamingo Corporation issued $30 million in new common stock in 2008.It used $22 million of the proceeds to replace obsolete equipment in its factory and $8 million to repay bank loans.As a result, investment:
A) of $8 million has occurred.
B) of $22 million has occurred.
C) of $30 million has occurred.
D) has not occurred.
Correct Answer:
Verified
Correct Answer:
Verified
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