For each of the following items, indicate whether it would be classified as either an (O) operating activity, an (I) investing activity, a (F) financial activity, or a significant (N) noncash financing and investing activity.
-Signed a note payable in exchange for cash.
A)O
B)N
C)I
D)F

Question

Quizplus · Accepted Answer

Signing a note payable in exchange for cash is considered a financing activity because it involves raising funds for the company's operations through borrowing.

For Each of the Following Items, Indicate Whether It Would