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True or False:

a) The cash budget is the operating budget. 

b) The extent of internal control characteristics adopted by a company should be assessing in terms of cost benefit.

c) If a lease qualifies as the operating lease, it doesn't add debt to the balance sheet.

d) The allowance process of accounting for bad debts violates the matching principle.

e) If the disposal of a significant segment takes place, the income statement must report both incomes from continuing operations and income (loss) from the discontinued operations.

f) Interest expenditure on a note payable is just recorded at maturity.

g) Treasury stock is reported as the asset on the balance sheet since treasury stock might later be resold.

h) Paid-in capital is the amount paid in to the corporation through stockholders in exchange for shares of ownership.

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  • Category:- Accounting Basics
  • Reference No.:- M915939

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