Issuing commercial papers to finance accounts receivable or short term financing needs lies at the low end of the pecking order of trade financing alternatives
Indicate whether the statement is true or false.
Answer: FALSE
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Which statement is false? Current GAAP
A) requires that the cash flows from the issuance of stock be reported as a financing activity and not be included in net cash flow from operating activities. B) does not allow cash flow per share reporting in a company's financial statements. C) states that under the indirect method, a company must report its operating cash inflows separately from its operating cash outflows. D) requires that the cash inflows and cash outflows for related investing activities as well as related financing activities be shown separately and not netted against each other.
Fly High Airlines acquires a new aircraft. It has an estimated life of 10 years and should be used for 20,000 hours of flight. What is the most appropriate method of depreciation to properly match revenues and expenses?
A) Double-declining-balance method B) Revenue expenditure method C) Straight-line method D) Units-of-activity method
Conversion means that someone has stolen an instrument or a bank has paid a check that has a forged indorsement
a. True b. False Indicate whether the statement is true or false
From the information given below, prepare a November income statement, a November statement of retained earnings, and a November 30 balance sheet. On November 1 of the current year, Victoria Garza, the sole stockholder, began Garza Décor with an initial investment of $50,000 cash in exchange for common stock. On November 30, her records showed the following items and amounts.Accounts payable$12,000Office Furnishings$40,000Accounts receivable 19,000 Rent expense9,600Cash 21,200Salaries expense4,200Dividends 6,000Telephone expense250Fees earned 34,000Common stock50,000Notes payable 4,250??
What will be an ideal response?