For each of the following items, indicate whether it would be classified as either an (O) operating activity, an (I) investing activity, a (F) financial activity, or a significant (N) noncash financing and investing activity.
-Paid interest on a note payable.
A)O
B)N
C)I
D)F

Question

Quizplus · Accepted Answer

Paying interest on a note payable is considered an operating activity because it relates to the costs of financing that are part of the company's day-to-day operations.

For Each of the Following Items, Indicate Whether It Would