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.

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?