Vargas Company sold a piece of land for $39,000 that had originally cost $32,500.This event would

Question

Quizplus · Accepted Answer

- Choice A is correct because the sale of the land would increase the cash inflow from investing activities on the statement of cash flows.
- Choice B is correct because the sale of the land is not related to the company's core business operations and would not affect operating income.
- Choice C is correct because the sale of the land would result in a gain of $6,500 ($39,000 - $32,500) which would increase net income.

Therefore, since all answer choices are correct, the best answer is D.

Vargas Company Sold a Piece of Land for $39,000 That