Which of the following is NOT included in operating activities?

The correct answer highlights the distinction between operating activities and other categories in the cash flow statement. Operating activities refer to the core everyday functions of a business that generate revenue, such as cash received from customers and cash paid to suppliers for goods and services.

Investment activities, on the other hand, involve the acquisition or disposal of long-term assets, which can include cash used for purchasing new machinery. This spending is not part of the regular operational cash flows, but rather a strategic investment meant for future growth and efficiency.

Therefore, cash used for investment in new machinery is categorized under investing activities, making it the option that does not belong in the realm of operating activities.