Bamberg Corporation purchased land for cash.Indicate which section,if any,this transaction would appear in,or relate to,on a statement of cash flows.

Question

Quizplus · Accepted Answer

The transaction would appear in the investing activities section since the purchase of land is considered an investing activity. This section reports cash inflows and outflows related to the purchase or sale of long-term assets such as property, plant, and equipment.

Bamberg Corporation Purchased Land for Cash