China is the first BRICS nation in the upper-middle-income category with a GNI per capita income of $6,560 in 2013

A firm sold an investment in securities available for sale originally costing $30,000, for $28,000 . At the beginning of the year, the investment had a valuation allowance of $3,000, debit. What is the correct disclosure for these events in the statement of cash flows prepared under the direct method, assuming this is the only investment in securities available for sale?

a. $28,000 investing cash inflow; add $33,000 in the reconciliation of earnings and net operating cash flow b. $28,000 investing cash inflow; add $2,000 in the reconciliation of earnings and net operating cash inflow c. $28,000 investing cash inflow; add $5,000 in the reconciliation of earnings and net operating cash inflow d. Add $5,000 in the reconciliation of earnings and net operating cash flow. e. None of these answers is correct.

Receiving a bill or otherwise being notified that an amount is owed is not recorded until the amount is paid

Indicate whether the statement is true or false