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How will transaction be shown on the statement of cash flow

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Reference no: EM132928041

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

Problem 2: The payment of cash dividends would appear in the statement of cash flows as:

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: An increase in cash in the financing activities section
Option 6: A decrease in cash in the financing activities section

Reference no: EM132928041

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