单项选择题:
An analyst does research about cash flow statement and gathers the following information about an IT pany (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 pany:（）
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.
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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。