A Company Purchased Machinery by Issuing a Long-Term Note Payable

question 67

True/False

A company purchased machinery by issuing a long-term note payable.This is an example of a non-cash investing and financing activity for the statement of cash flows.

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Definitions:

Illegal Employment

Refers to the hiring of workers in a manner that violates the employment laws, including child labor laws, minimum wage laws, or employing undocumented workers.

Perceived Illegal

Actions or practices that are viewed or interpreted by individuals or groups as being unlawful or unethical.

Federal Contract Compliance

Refers to the adherence to laws and regulations that require businesses and organizations with federal contracts to follow nondiscrimination and affirmative action guidelines.

Government Contractors

Businesses or individuals that enter into contracts with government entities to provide goods or services.