Which of the following statements is incorrect? O An increase in accounts receivable is a use of cash. O All the answers are correct except one. O An increase in bonds and private placement debt is a source of cash. O If a company purchases fixed assets during the year, it decreases cash because it must use cash to pay for the purchase. Intangible assets are income statement items such as land, mineral resources, buildings, equipment, machinery, and vehicles that are used over an extended period of time