During Year 2, Chico Company earned $1,250 of cash revenue, paid $700 of cash expenses, and paid a $200 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Cash inflow from operating activities was $550. Total assets increased by $350. Net income amounted to $550. Cash outflow from investing activities was $200.

During Year 2, Chico Company earned $1,250 of cash revenue, paid $700 of cash expenses, and paid a $200 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Cash inflow from operating activities was $550. Total assets increased by $350. Net income amounted to $550. Cash outflow from investing activities was $200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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