Acquisitions of long-term assets (i.e., vehicle or building): a) Never impact cash flows. b) Are investing activities c) Always invoice cash flows. d) Are operating activities. e) Are always financing activities. A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of $2,000, and had a five-years useful life. After depreciating asset for three complete years, the salvage value was reduced to $1, 200 and its total useful life was increased from 5 years to 6 years. Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life. a) $1,000 b) $1, 800 c) $1, 467 d) $1, 600 e) $2, 160 In a corporation, declaring a cash dividend causes: a) a decrease in cash b) a decrease in dividends expense c) an decrease in a liability d) no effect on the accounting equation e) a decrease in equity