Harrison Manufacturing Owns Land Worth $600,000 and Has $130,000 Worth

question 344

True/False

Harrison Manufacturing owns land worth $600,000 and has $130,000 worth of cash in its bank account. In the asset section of the balance sheet, Harrison lists its land holdings prior to listing its cash since it is a higher value.

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Definitions:

Data Tables

Structures in software and databases designed to organize, store, and manage data in rows and columns for easy retrieval and analysis.

TIMEVALUE Function

A function in spreadsheet software that converts a time in the form of text to a serial number representing the time in the software's date-time code.

TODAY() Function

A programming and spreadsheet function that returns the current date, widely used in data analysis, time-sensitive calculations, and reporting.

MROUND

A function in Excel that rounds a number to the nearest multiple of a specified value.