Test Bank for Fundamentals Of Financial Accounting 6CE Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
Chapter 1-12 Answers are at the End of Each Chapter Chapter 1 Student name:__________ 1) Building a new warehouse is an investing activity. ⊚ true ⊚ false
2) The payment of dividends is a financing activity. ⊚ true ⊚ false
3) Daily activities involved in running a business such as buying supplies and paying wages are
operating activities. ⊚ true ⊚ false
4) Financing activities include borrowing and obtaining money by issuing shares of ownership
(called share certificates). ⊚ true ⊚ false
5) Shareholders are creditors of a company. ⊚ true ⊚ false
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