Use this information to answer the following question. Northbrook Corporation is preparing a statement of cash flows. The following transactions occurred during the year: 1 . Sold machinery for $9,000 cash. 2 . Purchased a building for $80,000 cash. 3 . Issued $70,000 worth of stock to acquire an airplane. 4 . Converted long-term bonds by issuing $100,000 worth of stock. 5 . Declared and paid a
$10,000 cash dividend. Transaction 3 would be found on the statement of cash flows in the
a. cash flows from operating activities section.
b. cash flows from financing activities section.
c. noncash investing and financing transactions section.
d. cash flows from investing activities section.
C
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What will be an ideal response?
The declaration of dividends is solely the decision of the corporation's board of directors
Indicate whether the statement is true or false
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Fill in the blank(s) with the appropriate word(s).