Identify the section of the statement of cash flows (a-d) where each of the following items would be reported.
-Increase in income taxes payable
A)Operating activities
B)Financing activities
C)Investing activities
D)Schedule of noncash financing and investing

Question

Quizplus · Accepted Answer

An increase in income taxes payable would typically be reported as a change in a liability account in the operating activities section of the statement of cash flows, since it represents a cash outflow that is related to the company's current operations.

Identify the Section of the Statement of Cash Flows (A-D)