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Homework answers / question archive / The acquisition of land by issuing common stock is a cash transaction and would be reported in the body of a statement of cash flows
The acquisition of land by issuing common stock is a cash transaction and would be reported in the body of a statement of cash flows. a noncash transaction and would be reported in the body of a statement of cash flows. a noncash transaction that is not reported in the body of a statement of cash flows. only reported if the statement of cash flows is prepared using the direct method.
Only cash transactions are reported in cash flow statement. Acquisition of land by issuing common stock is a non-cash transaction. Hence, it should not be reported in cash flow statement. Therefore,Option C is correct answer.
Remaining options are incorrect.
