Proceeds on issuance and repayment of the principal on short-term notes payable are generally reported as financing activities on the statement of cash flows.

Question

Quizplus · Accepted Answer

Proceeds on issuance and repayment of short-term notes payable involve changes in the company's debt levels, which is a financing activity and would be reported as such on the statement of cash flows.

Proceeds on Issuance and Repayment of the Principal on Short-Term