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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

Quizplus · Accepted Answer

The retirement of non-current debt is classified under the financing activities section on the statement of cash flows, as it involves cash flows related to borrowing and repaying debt.

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