The electronic funds transfer (EFT) system cannot be used for transactions with the government because of security concerns
Indicate whether the statement is true or false
F
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In a learning organization, learning from mistakes and adapting accordingly is crucial.
Answer the following statement true (T) or false (F)
At the beginning of the year, a firm leased equipment on a capital lease, capitalizing $60,000 in its lease receivable account. The contract calls for December 31 payments of $15,000 . The lessor's annual reporting period ends December 31 and the contract reflects 10% interest. The lessee made the first payment as required. The direct method statement of cash flows for the lessor should reflect
which of the following in the first year of the lease contract (ignore noncash disclosures)? a. $6,000 operating cash flow; $9,000 investing cash flow b. $15,000 operating cash flow c. $6,000 operating cash flow; $9,000 addition reconciling adjustment d. $9,000 investing cash flow e. None of these answers is correct.
A characteristic of a fixed asset is that it is
A) intangible B) used in the operations of a business C) held for sale in the ordinary course of the business D) a long term investment
When the owner invests equipment in a business,
A. assets increase and owner's equity decreases. B. liabilities decrease and owner's equity increases. C. assets and owner's equity increase. D. assets and revenue increase.