A Decrease in Accounts Payable Is Added to Net Income

question 38

True/False

A decrease in accounts payable is added to net income in the operating activities section of the statement of cash flows prepared under the indirect method.

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Definitions:

Saint Augustine

An early Christian theologian and philosopher whose writings influenced the development of Western Christianity and Western philosophy, especially regarding concepts of original sin and divine grace.

Aristotle

An ancient Greek philosopher and scientist, whose works cover a wide range of subjects and form the basis of Western philosophy.

Aristotle

An ancient Greek philosopher and scientist, one of the greatest intellectual figures of Western history, who made significant contributions to various fields of knowledge.

Plato

An ancient Athenian philosopher, a student of Socrates and teacher of Aristotle, known for his contributions to Western philosophy.