For Each of the Following Items, Indicate Whether It Would

question 103

Essay

For each of the following items, indicate whether it would be classified as either an (O) operating activity, an (I) investing activity, a (F) financial activity, or a significant (N) noncash financing and investing activity.
________ (1) Cash sales of merchandise.
________ (2) Sale of land for cash.
________ (3) Signed a note payable in exchange for cash.
________ (4) Purchased supplies for cash.
________ (5) Paid cash to settle an account payable.
________ (6) Purchased a warehouse in exchange for shares of its stock.
________ (7) Paid interest on a note payable.
________ (8) Reissued treasury stock.
________ (9) Purchased equipment for cash.
________ (10) Purchased equipment in exchange for a 6-month note payable.

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Definitions:

Predecessor

An entity or person who held a position or role before the current holder.

Sherman Act

A landmark federal statute in the antitrust law of the United States, passed in 1890, that outlaws monopolistic business practices.

U.S. Corporations

Entities that are incorporated under the laws of a particular state in the United States, distinguished by having legal identities separate from their owners.

Trade Barriers

Measures imposed by governments or public authorities to regulate foreign trade and protect domestic industries from foreign competition.