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Financing activities on the statement of cash flows affect the long-term liability and equity accounts, such as Long-Term Not
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Answer:

The given statement that " Financing activites on the statement of cash flows affect the long - term liabilities and equity accounts such as long - term Notes payable, bonds payable, common stock and retained earnings" is True.

Note:

Financial activities include activities which are performed to raise the fund from owners as well as from outsiders. It also includes payment of consideration in the form of interest and dividend to these fund providers. Hence this activities affect the long - term liabilites and equity accounts such as long term notes payable, bond payable, common stock and retained earnings which are balance sheet items.

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