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.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 29BEB
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![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbf3d27b8-9870-4dd6-91a1-e79db3e1a9b0%2F92cb47f5-8422-47ed-8f90-5bdfc5d7d25c%2F97bjth_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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.
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