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True or False: Operating activities include the acquiring and selling of goods and services for cash...

True or False: Operating activities include the acquiring and selling of goods and services for cash or on account.

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Answer #1

Answer:- Operating activities include the acquiring and selling of goods and services for cash or on account, it is false statement.

Explanation:-Operating activities include the acquiring and selling of goods and services only for cash transactions. Operating activities involve the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services and cash payments to suppliers and employees for acquisitions of inventory and expenses.

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