In accordance with NZ IAS 7 Statement of Cash Flows, investing and financing transactions that do NOT require the use of cash or cash equivalents should be:

Select one:

a. presented in the statement of cash flows after operating activities and before investing and financing activities.

b. presented in a statement of cash flows after the operating, investing and financing activities.

c. excluded from a statement of cash flows.

d. presented in a statement of cash flows before operating, investing and financing activities.