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An increase in an asset account is a source of funds, whereas an increase in a liability account is a use of funds. An increase in an asset account is a source of funds, whereas an increase in a liability account is a use of funds. True False

An increase in an asset account is a source of funds, whereas an increase in a liability account is a use of funds. An increase in an asset account is a source of funds, whereas an increase in a liability account is a use of funds. True False

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 32GI: What is a fund? Distinguish between a fund and an appropriation of retained earnings.
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An increase in an asset account is a source of funds, whereas an increase in a liability account is a use of funds.
An increase in an asset account is a source of funds, whereas an increase in a liability account is a use of funds.
True
False
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