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

Question

Quizplus · Accepted Answer

Purchases of land for cash are classified as investing activities because they involve the acquisition of long-term assets that are expected to generate future economic benefits.

For Each of the Following Items, Indicate Whether It Would