A list of sources and uses of cash are given below. Indicate on the line provided whether each is an (O)operating, (I)investing, (F)financing, or a significant (N)noncash financing and investing activity.
-purchased land in exchange for a note payable
A)(O)operating
B)(I)investing
C)(F)financing, or a significant
D)(N)noncash financing and investing activity.

Question

Quizplus · Accepted Answer

Purchasing land in exchange for a note payable is considered a significant noncash financing and investing activity because it involves acquiring a long-term asset without the immediate use of cash, impacting both financing and investing aspects of the business.

A List of Sources and Uses of Cash Are Given