Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be

Which of the following statements is FALSE?

a. Seasonal sales can create large short-term cash flow deficits and surpluses. b. Deficits resulting from investments in long-term projects are often financed using long-term sources of capital, such as equity or long-term bonds. c. The first step in short-term financial planning is to forecast the company's future net working capital. d. If a company anticipates an ongoing surplus of cash, it may choose to increase its dividend payout.

A company can use the balanced scorecard to generate a set of initiatives to achieve its objectives

Indicate whether the statement is true or false