True or false?
a. If a company gets into financial difficulty, it can use some of itsshareholders’ equity to pay its bills for a time.
b. It is impossible for a firm to have a negative book value of equitywithout the firm going into bankruptcy.
c. You can construct a sources and uses statement for 2013 if you havea company’s balance sheets for 2012 and 2013.
d. The “goodwill” account on the balance sheet is an attempt by accountants to measure the benefits that result from a company’spublic relations efforts in the community.
e. A reduction in an asset account is a use of cash, while a reduction ina liability account is a source of cash.
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