A company purchased equipment for $150,000 by paying $50,000 and signing a $100,000 note payable. The entire $150,000 is reported as a cash outflow in the financing section of the statement of cash flows.

Answer the following statement true (T) or false (F)


False

Business

You might also like to view...

Whereas a receiving report normally indicates that goods have been received, some organizations use a(n) ______________________________ to acknowledge formally the satisfactory completion of a service contract

Fill in the blank(s) with correct word

Business

Porter's Five Forces Model outlines the process for a sales strategy.

Answer the following statement true (T) or false (F)

Business

A decrease in the balance of merchandise inventory is added to net income when calculating net cash flows from operating activities using the indirect method

Indicate whether the statement is true or false

Business

Which of the following is not a measurement issue in accounting?

A) Valuation. B) Recognition. C) Evaluation. D) Classification.

Business