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Find how transaction be shown on statement of cash flow

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Reference no: EM132940012

Problem 1: Harrison Co. bought an annual insurance policy in December 2020 which will be used in total in 2021. How will this transaction be shown on the statement of cash flows in 2020?

Option 1: An increase in cash in the operating activities section

Option 2: A decrease in cash in the operating activities section

Option 3: An increase in cash in the investing activities section

Option 4: A decrease in cash in the investing activities section

Option 5: Does not appear in the statement of cash flows

Reference no: EM132940012

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