Answer the following statements true (T) or false (F)
1. Purchasing equipment is considered an operating activity on the Statement of Cash Flows.
2. Financing activities on the Statement of Cash Flows represent decisions made by management to buy or sell long term assets.
3. If a business is planning on growth, it will generally issue additional dividends to shareholders.
4. Account titles such as Salaries Expense and Rent Expense would be numbered starting with a 3.
5. An account numbered 321 would be considered a Stockholders' Equity account as it begins with a
1. FALSE
2. FALSE
3. FALSE
4. FALSE
5. TRUE
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What will be an ideal response?
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Indicate whether the statement is true or false
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