The FASB Addressed Simultaneous Financing and Investing Activities by Requiring

question 1

Multiple Choice

The FASB addressed simultaneous financing and investing activities by requiring they be

• A)ignored.
• B)reported separately on a supplemental schedule to the cash flow statement.
• C)reported on the retained earnings statement.
• D)reported separately on the income statement.

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Definitions:

Mitochondrion

An organelle found in large numbers in most cells, in which the biochemical processes of respiration and energy production occur. It has a double membrane, the inner layer being folded inward to form layers (cristae).

Chloroplast

Organelle of photosynthesis in plants and photosynthetic protists. Light-dependent reactions occur at its inner thylakoid membrane; light-independent reactions, in the stroma.

Thylakoid Membrane

A membrane-bound structure within chloroplasts that contains chlorophyll, where the light-dependent reactions of photosynthesis occur.

Photosystems I and II

Components of the photosynthetic process in plants and algae, capturing light energy for ATP and NADPH production.