Assume that the Quinn Corporation uses the indirect method to depict cash flows. Indicate where, if at all, interest paid on note would be classified on the statement of cash flows.
A) Operating activities section.
B) Investing activities section.
C) Financing activities section.
D) Does not represent a cash flow.

Question

Quizplus · Accepted Answer

Interest paid on a note is classified under operating activities in the statement of cash flows when using the indirect method.

Assume That the Quinn Corporation Uses the Indirect Method to Depict