Which of These Items Will Appear in a Statement of Cash

question 53

Multiple Choice

Which of these items will appear in a statement of cash flows?

• A)Carrying value of an asset sold.
• B)Adjustment in the balance of an asset account caused by a revaluation.
• C)Proceeds from the sale of a fixed asset.
• D)All of the above.

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Definitions:

Notification of Dishonor

A formal notice given to the parties involved in a negotiable instrument (like a check or promissory note) indicating that payment has failed or been refused.

Drawer Secondarily Liable

The obligation of the drawer of a negotiable instrument, such as a check, to pay if the primary party fails to do so.

Fraudulent Alteration

Altering a document without permission with the goal of misleading or committing fraud.

Promissory Note

A promissory note is a financial instrument in which one party promises in writing to pay a determinate sum of money to another, either at a fixed or determinable future time.