A review of Pueblo Company's balance sheet revealed a beginning balance in its Land account of $150,000. The ending balance in the account was $325,000. All transactions associated with the purchase or sale of land were cash transactions. Based on this information alone, Pueblo would show a
A) $175,000 cash outflow in the financing activities section of its statement of cash flows.
B) $325,000 cash outflow in the financing activities section of its statement of cash flows.
C) $325,000 cash outflow in the investing activities section of its statement of cash flows.
D) $175,000 cash outflow in the investing activities section of its statement of cash flows.
Correct Answer:
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