Klein Corp

Multiple Choice

Klein Corp.acquired land by issuing its common stock.How should this transaction be disclosed when a statement of cash flows is prepared?

A) It should be disclosed in a supplemental schedule of noncash investing and financing activities or in a note.
B) The acquisition of land should be reported as an investing activity and the issuance of the stock as a financing activity.
C) It should be included in a printout of the general ledger Common Stock account with the statement of cash flows.
D) The transaction does not need to be disclosed.