Georgeborrows funds from Hometown Credit Union (HCU) to buy real property. George signs a written instrument that gives HCU an interest in the property as security for the debt's payment. This is
a. a mortgage.
b. an artisan's lien.
c. a workout agreement.
d. a suretyship arrangement.
A
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Indicate whether the statement is true or false
On a statement of cash flows prepared using the direct method, cash paid for income taxes would be income tax expense minus
a. an increase in income taxes payable. b. a decrease in income taxes payable. c. beginning income taxes payable. d. ending income taxes payable.
The adjustment for changes in operating working capital accounts depends in part on a firm's rate of growth. Some firms use suppliers or other creditors to finance these working capital needs, which are
a. classified as operating activities. b. classified as financing activities. c. classified as investing activities. d. disclosed in a supplementary schedule or notes to the financial statements. e. disclose such changes in managements' discussion and analysis.