An Increase in a Liability Account Represents a Source of Funds

question 67

True/False

An increase in a liability account represents a source of funds on the cash flow statement.

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience.

Expertise

Specialized skill or knowledge in a particular area, acquired through training, study, or practice, leading to a high level of competence or performance.

Psychology Laboratory

A controlled environment where scientific research, experiments, and observations in psychology are conducted.

Wundt

A psychologist known as the father of experimental psychology, he established the first laboratory dedicated to psychological research in Leipzig, Germany.