An analyst does research about cash flow s

问题单项选择题

An analyst does research about cash flow statement and gathers the following information about an IT company (in millions).

Cash at the beginning of 2011	$490
Cash at the ending of 2011	$505
Cash flows from operating activities in 2011	$32
Cash flows from investing activities in 2011	$30

Which of the following transactions, on its own, best explains the change in cash flows from the beginning of the year The company:（）

A. issued $47 millions in bonds in 2011.

B. repurchased $47 millions of its stock in 2011.

C. increased long-term assets by $47 millions in 2011.

答案

参考答案：B

解析：

2011年融资性现金流(cash flows from financing activities)=$505-$490-$32$30=-$47(million)，说明2011年有$47million的融资性现金流流出。题干中已经给出了经营性现金流(cash flows from operating activities)和投资性现金流(cash flows fromlnvesting activities)，如果融资性现金流为0的话，则年末现金应该是$490 +$32+$30=$552(million)。但是当年年末的现金余额是$505million，说明融资

性现金流有$47million的流出。A选项发行债券是融资性现金流入(financing inflow)，而不是融资性现金流出(financing outflow)，所以A错。B选项回购股票属于融资性现金流出，所以B及正确答案。C选项购买长期资产属于投资性现金流出(investing outflow)，所以C错。