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Match each activity with its classification on the statement of cash flows.InstructionsDrag and drop application.Purchasing inventory from vendorsPurchasing inventory from vendors drop zone empty.Signing a long-term promissory noteSigning a long-term promissory note drop zone empty.Selling equipmentSelling equipment drop zone empty.Financing ActivityOperating ActivityInvesting Activity

Question

Match each activity with its classification on the statement of cash flows.InstructionsDrag and drop application.Purchasing inventory from vendorsPurchasing inventory from vendors drop zone empty.Signing a long-term promissory noteSigning a long-term promissory note drop zone empty.Selling equipmentSelling equipment drop zone empty.Financing ActivityOperating ActivityInvesting Activity

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Solution

  1. Purchasing inventory from vendors: This is an Operating Activity. It is part of the day-to-day business operations.

  2. Signing a long-term promissory note: This is a Financing Activity. It involves the inflow or outflow of cash from debt or equity financing.

  3. Selling equipment: This is an Investing Activity. It involves the sale of long-term assets.

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