true false 1 investing activities are those that require the use of resources to pro 4352265

TRUE/FALSE

1.Investing activities are those that require the use of resources to produce, sell, and distribute goods and services.

2.Equity is created when a company obtains financial resources from owner(s).

3.The sale of equipment is a financing activity.

4.Assets are resources controlled by an organization and available for its use in the future.

5.A transaction is an event that will cause changes in a firm's resources.

6.Liabilities are amounts invested in an organization by its owners.

7.Liabilities represent legal obligations of an organization to provide cash or goods or services to external parties in the future.

8.Transactions are events that result from the transformation process.

9.A balance among the elements of the accounting equation must maintained at all times.

10.Investing decisions involve choices about when and where to obtain financial resources and the amount needed.

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