Bamberg Corporation purchased land and building with a mortgage.Indicate which section,if any,this transaction would appear in,or relate to,on a statement of cash flows.
A) Financing activities section
B) Operating activities section
C) Investing activities section
D) Schedule of noncash investing and financing transactions

Question

Quizplus · Accepted Answer

This transaction involves a noncash activity since the purchase was made with a mortgage rather than cash. Therefore, it would be disclosed in the schedule of noncash investing and financing transactions.

Bamberg Corporation Purchased Land and Building with a Mortgage