\"465037811&question;!de 1 1&fusheda; talse&cid; 120% SAM 3100 Online Spring 201

Question

"465037811&question;!de 1 1&fusheda; talse&cid; 120% SAM 3100 Online Spring 2017-2018 Abby Neff | 1/11/18 11:54 PM Homework: Ch. R Accounting: Not For naGrade, But Prerequsite T Save Score: 0 of 1 pt 110126(22 complete) HW Score: 75%, 24 of 32 pts Basic Acct. Concepts 11 Question Help Which of the statements below is FALSE? O A. The cash account is much like your individual chockbook, because it tells you how much money you currently have for paying bills O B. The long-term capital asset accounts of the balance sheet represent the capital investment of the company and reflect assets O C. Long-term assets are accounts that will normally be turned inlo cash over the course of the operating or business cycle of the D. The Plant Property and Equp ont account is stra toward in its descrpton, yot it really contans two pocos the on nal value orre or spending on new oms that the company owns and that provide the basts for producing goods and services for sale rm, and current liabilities are the accounts that will come due for payment over the purchase price) of the equipment and the accumuliated depreciation or business cycle Click to select your answer and then click Check Answer Clear All

Explanation / Answer

Answer: statement C is false

Explanation to the answer:

Sentence C is wrong because long-term assets accounts are Noncurrent assets and such assets are not turned into cash / consumed within one year or the business cycle of the or balance sheet date and current liabilities accounts that will come due for payment over the operating or business cycle.

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