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6. Investing activities involve the acquiring and disposing of liabilities that a company needs in order to finance its operating activities True False 7. True False Other than operating profit, there are three main sources of external financing: 10 12 8. Financing activities are defined as the acquiring and disposing of resources for the purpose of selling products and services True False The basic purpose of accounting is to provide useful financial information. 14 9 15 True False 10 12 5. 18 True False 19 A company's fiscal year cannot coincide with the calendar year