22. The account "wages payable"would appear in the incomestatementTrueO False23. Buying goods and servicesare examples of operatingactivities in the statement ofcash flows.TrueFalse24. The statement of cash flowsdiscloses significant eventsrelated to the operating,investing and financing activitiesof a business.TrueFalse

Solution In accrual accounting , expenses and revenues are recognized in the period when they are…

Answered: 22. The account "wages payable" would…

22. The account "wages payable" would appear in the income statement True O False 23. Buying goods and services are examples of operating activities in the statement of cash flows. O True False

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

22. The account "wages payable"
would appear in the income
statement
True
O False
23. Buying goods and services
are examples of operating
activities in the statement of
cash flows.
True
False
24. The statement of cash flows
discloses significant events
related to the operating,
investing and financing activities
of a business.
True
False

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