Money borrowed for a mortgage would be a(n)________ activity.

Question

Quizplus · Accepted Answer

Borrowing money for a mortgage is a financing activity as it involves obtaining funds from an external source to finance the purchase of a long-term asset such as a house. Operating activities refer to the day-to-day activities of a business, investing activities involve acquiring and disposing of long-term assets, and non-cash activities involve transactions that do not affect cash flow, such as depreciation or writing off bad debts.

Money Borrowed for a Mortgage Would Be A(n)________ Activity