Multiple Choice
During Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its owners. Based on this information alone,which of the following statements is not true?
A) Net income amounted to $350.
B) Total assets increased by $200.
C) Cash inflow from operating activities was $350.
D) Cash outflow from financing activities was $200.
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Borrowing money from the bank is an
Q23: An asset source transaction increases a business's
Q38: Explain some of the similarities and differences
Q39: Name the group that has the primary
Q39: Delta Company experienced an accounting event that
Q50: Which resource providers lend financial resources to
Q52: Dividends paid by a company are reported
Q62: Liabilities are reported on which of the
Q65: Financial accounting information is usually less detailed
Q86: Stosch Company's balance sheet reported assets of