Correct answer: Option c) Dividends Declared.

Explanation:

Only those transactions that involve a movement of cash inflow or outflow or reflected in the cash flow statements under both the direct method and the indirect method. The dividend is first declared by the board of directors and then approved by the shareholders. Once they are declared and approved, they are paid within 30 days from the declaration date. So the payment of dividends will be shown as an outflow in the financing activities. But the declaration of dividends does not involve the movement of cash and hence it won't be reported on a cash flow statement.