If a Positive Change in Gross Fixed Assets Is Greater

question 111

True/False

If a positive change in gross fixed assets is greater than the change in accumulated depreciation for a particular year,net fixed assets increase and this constitutes a source of funds.

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Definitions:

Financial Accounting Ethics

Principles and standards guiding ethical behavior and practices in the field of financial accounting, focusing on honesty, transparency, and integrity.

International Accounting Standards

A set of accounting guidelines that aim to standardize accounting practices across countries, facilitating the comparison of financial statements globally.

Multinational Corporations

Large corporations that operate and provide goods or services in multiple countries.

Information Technology

The study or use of systems (especially computers and telecommunications) for storing, retrieving, and sending information.