Accounts Payable, Taxes Payable, and Notes Payable

question 127

Multiple Choice

Accounts Payable, Taxes Payable, and Notes Payable:

• A)increase on the debit side, decrease on the credit side and are assets.
• B)decrease on the debit side, increase on the credit side and are liabilities.
• C)increase on the debit side, decrease on the credit side and are expenses.
• D)decrease on the debit side, increase on the credit side and are revenues.

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Definitions:

Net Cash Provided

Refers to the total amount of cash generated by an organization's operations, investment activities, and financing activities within a specific period.

Transactions

Financial events or exchanges between parties that are recorded and have monetary implications, such as sales or purchases.

Investing Activities

Financial transactions related to the acquisition or disposal of long-term assets and investments.

Net Cash Provided

The total amount of cash generated by an organization's operational activities over a specific period, typically reported on the cash flow statement.