Significant Noncash Transactions Are Not Required to Be Disclosed Either

question 71

True/False

Significant noncash transactions are not required to be disclosed either in the statement of cash flows.

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Definitions:

Assignee

The party to whom rights or property are legally transferred through an agreement or contract.

Holder

An individual or entity that legally possesses a document, such as a check, note, bill of exchange, or share of stock.

Certificate of Deposit

A savings certificate with a fixed maturity date, specified fixed interest rate, and can be issued in any denomination aside from minimum investment requirements.

Principal

The main party to a transaction, contract, or financial instrument, or the amount of a debt or investment before interest.