Which Balance Sheet Accounts Are Affected by Financing Activities

question 2

Multiple Choice

Which balance sheet accounts are affected by financing activities?

• A) current assets and current liabilities.
• B) long-term assets.
• C) long-term liabilities.
• D) intangible assets.

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Definitions:

Ramifications

Consequences or outcomes that result from an action or decision.

Coal Burning

The combustion of coal as a method to generate electricity or heat, contributing to air pollution, including the release of carbon dioxide and other harmful emissions.

Global Warming

The long-term rise in Earth’s average temperature, primarily due to carbon dioxide emissions from burning fossil fuels.