20. Financing activities involve b a acquiring investments lending money. e. borrowing money. dacquiring long-lived assets. 21. Indicate where the payment of income where the payment of income taxes would appear, if at all, on the statement of cash flows. a. Operating activities section b. Financing activities section c. Investing activities section d. Does not represent a cash flow zz. In preparing a statement of cash flows, a conversion of bonds into common stock will be reported in: a. Operating activities section b. Financing activities section c. Investing activities section d. Does not represent a cash flow