Land was purchased with the proceeds from the issuance of common stock. This transaction would be reported on the statement of cash flows as a(n):
A) operating activity.
B) investing activity.
C) financing activity.
D) noncash investing and financing activity.

Question

Quizplus · Accepted Answer

This transaction is a noncash investing and financing activity because it involves the exchange of common stock for land, without the use of cash.

Land Was Purchased with the Proceeds from the Issuance of Common