Cash received from the borrowing of long-term debt will be shown:
A) in the financing activity section of the cash summary budget.
B) in the investing activity section of the cash summary budget.
C) on the cash receipts budget.
D) in the operating activity section of the cash summary budget.

Question

Quizplus · Accepted Answer

Long-term debt is a form of financing, so cash received from borrowing long-term debt will be shown in the financing activity section of the cash summary budget.

Cash Received from the Borrowing of Long-Term Debt Will Be