The financing activities section of a statement of cash flows includes cash used or provided by the actual business of the company
Indicate whether the statement is true or false
FALSE
Explanation: Financing activities shows the cash exchanged between the firm and its owners (or shareholders) and creditors, including dividend payments and debt service. It is the operating activities section that shows cash used or provided by the core business of the company.
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The success of accounting as a form of communication depends on two concepts, ____________________ and ____________________
Fill in the blank(s) with correct word
On June 3, Addison Company purchased merchandise worth $1,600 on credit, terms 2/10, n/30. The account was paid on June 10. What is the required journal entry to record the payment under the periodic inventory system?
A) Accounts Payable 1,568 Purchases Discounts 32Cash 1,600 B) Accounts Payable 1,600 Purchases Discounts 32Cash 1,568 C) Cash 1,568 Purchases Discounts 32Accounts Payable 1,600 D) Cash 1,600 Purchases Discounts 32Accounts Payable 1,632
The effect of recording depreciation for the year is a(n):
A) decrease in assets and a decrease in net income. B) decrease in assets but no change in owners' equity. C) increase in assets and an increase in net income. D) decrease in net income and no change to assets.
What is a supply chain planning system?
A. Ensures supply chain cohesion by automating the different activities of the supply chain. B. Views all areas up and down the supply chain in real time. C. Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory. D. Occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain.