Using the Indirect Method, If Land Costing $85,000 Was Sold

question 76

True/False

Using the indirect method, if land costing $85,000 was sold for $145,000, the amount reported in the financing activities section of the statement of cash flows would be $85,000.

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Definitions:

Blind Spot

The area in the visual field that lacks detection by the retina due to the absence of photoreceptor cells where the optic nerve exits the eye.

Retina

The thin inner surface of the back of the eyeball; this surface contains the sensory receptors.

Pupil

the black circular opening in the center of the iris of the eye, which regulates the amount of light that enters the eye.

Sensation

The process by which our sensory receptors and nervous system receive and represent stimulus energies from our environment.