The Sale of Fixed Assets Represents an Investing Activity

question 10

True/False

The sale of fixed assets represents an investing activity.

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Definitions:

Promise To Pay

A written agreement to repay a borrowed amount under specified terms.

Specific Asset

A particular identified asset, often marked for a specific use or project within a company's balance sheet.

Account

A record within financial bookkeeping that tracks financial transactions of a specific nature.

Revenue

The total earnings from goods or services sold, stemming from a company's main operational activities.