Fixed Asset Sale Represents an Increase in Cash

question 390

True/False

Fixed asset sale represents an increase in cash.

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Definitions:

African Colony

Refers to the territories in Africa that were under the control and rule of European powers during the era of New Imperialism, starting from the late 19th century.

Liberia

A country on the West African coast, founded in the 19th century by freed American and Caribbean slaves as a colony for African-American resettlement.

Black Shipbuilder

Refers to an African American or an individual of African descent who is skilled in designing, constructing, and repairing ships.

Freetown

The capital city of Sierra Leone, founded as a home for repatriated African Americans and rescued slaves in the late 18th century.