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Answer (B) is correct . Net working capital is defined as the excess of current assets over current liabilities. Refinancing short-term debt with long-term debt decreases current liabilities with no effect on current assets, resulting in an increase in working capital.

Answer (A) is incorrect because A prepayment of expenses does not change current assets or current liabilities. Cash decreases by the same amount that prepaid rent increases.
Answer (C) is incorrect because The acquisition of land (a noncurrent asset) for common stock (an equity interest) does not affect either current assets or current liabilities.
Answer (D) is incorrect because The purchase of trading securities does not affect total current assets. Cash is replaced by trading securities, another current asset.