Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

FORUM DESCRIPTION As Abe Lincoln once said, I totally understand why, when I buy a delivery truck, or a building, for the business, we call

image text in transcribed
FORUM DESCRIPTION As Abe Lincoln once said, "I totally understand why, when I buy a delivery truck, or a building, for the business, we call it an "investing activity": But when I sell a long-term asset, does that still quality as an investing activity Shouldn't it be classified as a Financing Activity, because it generated cash?" Explain (in two or three sentences) whether old Honest Abe Lincoln is correct or not, and explain WHY Leave a comment by 11/01/20. After 11/01/20, come back and review the posts and comment in a positive mannert) on TWO of your classmates posts. Leave your followup comments by 11/06/20. You are reminded to observe the rules of Netiquette

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Accounting Cases Investigating Issues of Fraud and Professional Ethics

Authors: Jay Thibodeau, Deborah Freier

4th edition

78025567, 978-0078025563

More Books

Students also viewed these Accounting questions

Question

List the common methods used in selecting human resources. page 254

Answered: 1 week ago