Partisan Services purchased 10 delivery vehicles by issuing a 10-year installment Note Payable for $320,000. This transaction would be shown in the investing activities section of the statement of cash flows.

Question

Quizplus · Accepted Answer

The purchase of delivery vehicles through a note payable does not involve cash outflow, so it is not shown in the investing activities section but rather in the non-cash investing and financing activities section.

Partisan Services Purchased 10 Delivery Vehicles by Issuing a 10-Year