3 years ago

The purchase of equipment financed by a long-term notes payable is an example of ________.

1 answer:

soldier1979 [14.2K]3 years ago

4 0

A. Non-cash investing and financing activity.

Here, we are using long-term notes, a non-cash activity, in order to purchase equipment to be used in production. This transaction is using non-cash investing in equipment and non-cash financing in order to grow the business. You want to focus on both what is purchased and how it is paid to determine what type of activity it is for the statement of cash flows and other accounting statements.

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The purchase of equipment financed by a​ long-term notes payable is an example of​ ________.

The purchase of equipment financed by a long-term notes payable is an example of ________.