Equipment Is Acquired by Issuing a Note Payable for $57,000

question 16

Multiple Choice

Equipment is acquired by issuing a note payable for $57,000 and a down payment of $30,000.The statement of cash flows will report a:

• A)$30,000 inflow in the operating activities section.
• B)$57,000 inflow in the investing activities section.
• C)$57,000 cash inflow in the financing activities section.
• D)$30,000 cash outflow in the investing activities section.

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Definitions:

Consumption

The purchase and use of goods and services by households. It is a primary component of GDP and an indicator of economic health.

Good

A Good is a tangible product that satisfies human wants or needs.

Kosher Foods

Foods that comply with a strict set of dietary rules in Judaism.

Elastic

A term describing a situation where the demand or supply of a good or service changes significantly when its price changes.