Using the T-Account Approach

question 75

Multiple Choice

Using the T-account approach:

• A)Net income appears on the debit side of the Cash account under operating activities.
• B)Payment of long-term debt appears on the debit side of the Cash account under financing activities.
• C)Purchase of equipment appears on the credit side of the Cash account under operating activities.
• D)An increase in Accounts Receivable appears on the debit side of the Cash account under operating activities.

---

Definitions:

Severe Liability

refers to a legal situation where an individual or entity is held heavily responsible for damages or violations, often in cases of gross negligence or intentional misconduct.

Dissent

The act of expressing a difference of opinion or disagreement with a prevailing view or decision.

Executive Committee

a smaller group within a larger organization's board of directors that makes important decisions and policies.

Purpose Clause

A section within a legal document or law that outlines the intent or goal of the document or statute.