Which Balance Sheet Accounts Are Most Affected by Operating Activities

question 169

Multiple Choice

Which balance sheet accounts are most affected by operating activities?

• A)Current assets and current liabilities
• B)Long-term assets
• C)Long-term liabilities
• D)Stockholders' equity

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Definitions:

Robert Mcnamara

A prominent figure in U.S. history who served as the Secretary of Defense during the Vietnam War and later as the President of the World Bank.

Vietnam War

A prolonged conflict from 1955 to 1975 between communist forces in North Vietnam, backed by its communist allies, and the government of South Vietnam, supported by the United States and other anti-communist nations.

War Powers Act

Law passed in 1973, reflecting growing opposition to American involvement in the Vietnam War; required congressional approval before the president sent troops abroad.

Congressional Approval

The process by which proposed laws, appointments, and other measures are formally agreed upon or sanctioned by the U.S. Congress, which consists of the Senate and the House of Representatives.