With Respect to Operating Assets, the Two Different Transactions That

question 139

Short Answer

With respect to operating assets, the two different transactions that would appear in the investing activities category of the statement of cash flows are __________________________________ and __________________________________.

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Definitions:

Residual Value

The estimated value that an asset will realize upon the end of its useful life, often used in calculating depreciation.

Straight-Line Method

A depreciation method that allocates the cost of an asset evenly over its useful life.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the US.

IASB

International Accounting Standards Board, the organization responsible for developing and publishing international financial reporting standards.