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Ivanshal [37]
4 years ago
13

When a company borrows $150 million during the year and also repays $120 million of debt, the company can disclose the $30 milli

on net amount as excess of borrowings over re-payments in the financing activities section of the statement of cash flows.
A. True
B. False
Business
1 answer:
Sunny_sXe [5.5K]4 years ago
7 0

Answer:

B. False

Explanation:

Cash inflows and outflows for borrowing and repayment of debt are reported separately at gross amounts in the financial activities section of the cash flow statement.

When a company borrows $150 million during the year and also repays $120 million of debt. In this scenario, both amount of transaction (borrowing and repayment) will be reported separately at gross amount in the financial activities section of the cash flow statement.

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4 0
2 years ago
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bija089 [108]

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<h3>Gross Domestic Product</h3>

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Although it is often calculated on a yearly basis, GDP can also be computed on a quarterly basis. For instance, the US government estimates the annualized GDP for the entire year as well as each fiscal quarter.

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6 0
2 years ago
Which entity types can generally use either the cash or accrual method of accounting for tax purposes
Neko [114]

Answer:

S corporation

Sole proprietorship

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Explanation:

Not sure if im right but there ya go :)

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3 years ago
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5 0
2 years ago
In a few sentences, explain what it means to be<br> financially responsible.
Elina [12.6K]
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