On October 15, 2007, Maxx Duggan Enterprises Accepts a $10,000

question 20

Multiple Choice

On October 15, 2007, Maxx Duggan Enterprises accepts a $10,000 note receivable from the YNR Company in exchange for cash. The acceptance of the note receivable would be classified on Maxx Duggan's 2007 statement of cash flows as an) :

• A)financing activity.
• B)operating activity.
• C)investing activity.
• D)Notes receivable acceptances are not reported on a statement of cash flows.

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