Question
Kingston Company settled a long-term note payable it owed to Creative Company by issuing capital stock. Kingston would report this a. in the schedule of
Kingston Company settled a long-term note payable it owed to Creative Company by issuing capital stock. Kingston would report this
| a. | in the schedule of noncash investing and financing transactions. | |
| b. | only as a cash outflow from financing activity for the payment of the debt. | |
| c. | only as a cash inflow from financing activity for the issuance of the capital stock. | |
| d. | as both a cash flow from investing activity and a cash flow from financing activity. |
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CISA Exam Prep Certified Information Systems Auditor Your Complete Certification Solution
Authors: Michael Gregg
2nd Edition
0789735733, 978-0789735737
