Issuance of Notes,either Long- or Short-Term,would Be Reflected in the Financing

question 126

True/False

Issuance of notes,either long- or short-term,would be reflected in the financing activities section of the statement of cash flows.

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Definitions:

Contingent Liability

A potential financial obligation that depends on a future event occurring or not occurring.

Reasonably Possible

A term used to describe the likelihood of an event occurring that is more than remote but less than probable, often used in financial reporting.

Not Estimable

A term indicating that something cannot have its value, size, or amount accurately determined or calculated.

Contingent Liability

A potential financial obligation that may arise in the future, depending on the occurrence or non-occurrence of one or more uncertain events.