Asked by
James Witherspoon
on Nov 14, 2024
Verified
The sale of land for cash would be classified as a cash receipt from an investing activity.
Investing Activity
Financial actions related to acquiring or disposing of non-current assets or investments, contributing to the long-term operations and growth of a company.
- Distinguish between operating, investing, and financing activities.
- Recognize the classification of cash receipts and payments in the appropriate section of the statement of cash flows.
Verified Answer
GO
Learning Objectives
- Distinguish between operating, investing, and financing activities.
- Recognize the classification of cash receipts and payments in the appropriate section of the statement of cash flows.