Question

Where is the best place to look to determine how much the company spent to purchase long-term assets in the current year?.

Answer 1

The best place that one should check when looking for the amount a company spent on purchasing long-term assets is the Investing section of the Cashflow statement.

What goes in the Investing section of the cashflow statement?

This is where cash transactions relating to the purchase and sale of fixed assets are recorded. Transactions involving securities of other companies go here as well.

If we want to see the amount spent on fixed assets therefore, we should look at the investing section as it will show the actual amount of cash spent on fixed assets.

Find out more on the cashflow statement at brainly.com/question/735261.