The Third Section Presented on the Statement of Cash Flows

question 17

True/False

The third section presented on the statement of cash flows is the non-cash operating activities section.

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Definitions:

Promissory Estoppel

A doctrine under which a promise is binding if the promise is clear and definite, the promisee justifiably relies on the promise, the reliance is reasonable and substantial, and justice will be better served by enforcing the promise.

Consideration

A fundamental concept in contract law that involves something of value exchanged between parties as part of an agreement.

Legality

The state or condition of being in accordance with the law.

Legally Sufficient

A term referring to the adequacy of a piece of evidence or claim to meet legal standards or requirements.