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Homework answers / question archive / which section of the statement of cash flows is used to report the purchase of a building by issuing a 9-month note payable? A
which section of the statement of cash flows is used to report the purchase of a building by issuing a 9-month note payable? A. Schedule of noncash investing or financing activity. B. Operating activities. C. Investing activities D. Financing activities
A) Schedule of non cash investing or financing .
Explanation :
It is a significant investing and financing activity that do not directly affect cash.
- Company doesn't generate any cash inflow or outflow from such activity .
Eg : purchase of machine by note payable or issue of stock to acquire land .
