NO.PZ2016012102000062
问题如下：
Assuming U.S. GAAP
Cash flow from financing activities is:
选项：
A.$45,000.
B.$55,000.
C.$75,000.
解释：
A is correct.
CFF=Issuance of preferred stock + issuance of bonds - principal payments on bank borrowings - repurchase of common stock - dividends paid = 45,000 + 40,000 - 10,000 - 20,000 - 10,000 = $45,000
考点：直接法求的CFF
属于融资活动的cash flow 有Issuance of preferred stock（发行优先股）, issuance of bonds（发债）, principal payments on bank borrowings(偿还借款本金), repurchase of common stock（回购公司股票), dividends paid(支付股息)
CFF= 45,000 + 40,000 - 10,000 - 20,000 - 10,000 = $45,000
注意：
1. debt retired through issuance of common stock 是发行股票赎回债券，从债权变为了股权，没有现金流的产生。
2. 美国准则下，interest paid属于CFO，国际准则下可以归为CFO也可以归为CFF。
不是说dividend paid在US.CAAP 准则下是属于CFO的吗？这里要求的是CFF。为什么解题的思路里把dividend paid在里面减掉了？
