ADMN 3321H Lecture Notes - Lecture 1: Cash Flow Statement, Contingent Liability, Dividend

• School: Trent University
• Department: Business Administration
• Course: ADMN 3321H
• Professor: Peggy Wallace

Document Summary

Contingent liabilities ** - aspe and ifrs. The statement of cash flows reports on the financial position at a point in time: false. The fundamental accounting equation can be represented as a= l+ se: true. A current liability is one that must be satisfied within 12 months or the company"s operating cycle: true. Bonds payable are always recognized at face value on the sfp: false. Operating leases are a form of off-balance sheet financing: false true. A company wants to borrow million from a bank. It will be 6:1 if the company gets the million. The calculated debt/equity ratios indicate that this company is a low risk client who will have no problems repaying the loan: false. One advantage of being a common shareholder is that you rank ahead of bondholders and other creditors: false. Mattawa manufacturing inc. declared a 50% stock dividend for holders of record at march 31, 2014.