Because the cash received from the sale of long-term assets is reported in the investing activities section of the statement of cash flows, any gain or loss is built into the cash received under the direct method
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The accountant posts monthly from the Accounts Payable Debit column of the cash payments journal to the individual suppliers' accounts in the accounts payable ledger
Indicate whether the statement is true or false
Although the word critical can mean to find fault or to criticize, critical thinking is not a negative activity.
Answer the following statement true (T) or false (F)
The marketing mix should be left alone during the maturity stage of the product life cycle; tampering with it may bring an early death to the product.
Answer the following statement true (T) or false (F)
Flores forges Grendel's signature on a check "payable to the order of Flores" drawn on Grendel's account in Harbortown Bank. Most likely, if the bank pays the check
a. the Federal Reserve will reimburse all parties for their costs. b. Grendel and the bank will each suffer half of the amount of the loss. c. Grendel will be liable for the amount. d. the bank will have to recredit Grendel's account.