Which Balance Sheet Accounts Are Affected by Financing Activities

question 2

Multiple Choice

Which balance sheet accounts are affected by financing activities?

• A) current assets and current liabilities.
• B) long-term assets.
• C) long-term liabilities.
• D) intangible assets.

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Definitions:

Maintenance of Membership

A labor union rule that requires workers to maintain union membership as a condition of employment.

Certification

The process of officially recognizing someone or something as meeting certain standards or qualifications.

Arbitration

A method of dispute resolution where an independent third party reviews the case and makes a decision that can be binding or non-binding.

Conciliation

A method of alternative dispute resolution where an unbiased third party helps disputing parties to reach a voluntary, mutually agreeable resolution.