A company purchased a parcel of land using a long-term note payable.Using the direct method,where is this transaction reported on the statement of cash flows?
A)operating activities
B)investing activities
C)financing activities
D)noncash investing and financing activities

Question

Quizplus · Accepted Answer

The purchase of land using a long-term note payable is reported in the noncash investing and financing activities section of the statement of cash flows because it involves acquiring a long-term asset without the immediate use of cash.

A Company Purchased a Parcel of Land Using a Long-Term