A Purchase of Land in Exchange for a Long-Term Note

question 169

True/False

A purchase of land in exchange for a long-term note payable must be disclosed as a noncash investing and financing activity.

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Definitions:

Function Morphemes

Words or affixes that provide grammatical structure to a sentence without carrying direct content meaning.

Morpheme

The smallest grammatical unit in a language, that cannot be further divided, and carries meaning; for example, -s, un-, and ship in friendships.

Phoneme

A phoneme is the smallest unit of sound in a language that can distinguish one word from another, such as the difference between the /p/ and /b/ sounds in "pat" and "bat."

Words Per Minute

A measure of typing or reading speed, indicating how many words an individual can type or read in one minute.