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Ingles Corp., a private company reporting under ASPE, engaged in the following transactions.For each transaction, indicate where, if at all, it would be classified on the statement of cash flows.
-Retirement of non-current debt (incurred for lending purposes) with cash:
A)operating activities section
B)investing activities section
C)financing activities section
D)does not represent a cash flow

Question

Use the following information for questions 
Ingles Corp., a private company reporting under ASPE, engaged in the following transactions.For each transaction, indicate where, if at all, it would be classified on the statement of cash flows.
-Retirement of non-current debt (incurred for lending purposes) with cash:
A)operating activities section
B)investing activities section
C)financing activities section
D)does not represent a cash flow

Quizplus · Accepted Answer

The retirement of non-current debt with cash is classified in the financing activities section of the statement of cash flows, as it relates to the company's financing activities and involves the repayment of borrowed funds.

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