Business
Business, 18.07.2020 18:01, jrfranckowiak

Cash proceeds of $72,000 include a $12,000 gain on the sale of land and the $60,000 cost (book value) of the land. Which of the following is true?a. The $12,000 gain is deducted from net income in the Operating Activities section. b. The entire cash proceeds appear as a cash inflow in the Investing Activities section. c. The book value does not appear as a cash inflow or outflow anywhere on the statement. d. All of these choices are correct.

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Cash proceeds of $72,000 include a $12,000 gain on the sale of land and the $60,000 cost (book value...

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