Final answer:
Collecting cash on a long-term loan is classified as an investing activity on the statement of cash flows.
Step-by-step explanation:
On the statement of cash flows, collecting cash on a long-term loan is classified as an investing activity. Investing activities involve the acquisition and disposal of long-term assets, including cash flows related to loans and lending activities. In this case, collecting cash on a long-term loan represents a decrease in invested capital, which falls under the category of investing activities on the statement of cash flows.