True or false?
a. If a company gets into financial difficulty, it can use some of its shareholders’ equity to pay its bills for a time.
b. It is impossible for a firm to have a negative book value of equity without the firm going into bankruptcy.
c. If a company increases its dividend, its net income will decrease.
d. You can construct a sources and uses statement for 2014 if you have a company’s balance sheets for year-end 2013 and 2014.
e. The “goodwill” account on the balance sheet is an attempt by accountants to measure the benefits that result from a company’s public relations efforts in the community.
f. A reduction in an asset account is a use of cash, while a reduction in a liability account is a source of cash.
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