During Year 2, Chico Company Earned $2,750 of Cash Revenue

question 86

Multiple Choice

During Year 2, Chico Company earned $2,750 of cash revenue, paid $1,200 of cash expenses, and paid a $700 cash dividend to its owners. Based on this information alone, which of the following statements is not true?

• A)Net income amounted to $1,550
• B)Total assets increased by $850
• C)Cash inflow from operating activities was $1,550
• D)Cash outflow from financing activities was $850

Analyze the concept of practices in linking micro and macro levels of society.

Grasp the significance of Norbert Elias's views on the process of civilization.

Recognize the power of agency in Anthony Giddens's structuration theory.

Differentiate between practical consciousness and discursive consciousness.

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Definitions:

Preemptive Rights

Rights that allow existing shareholders to buy additional shares before new shares are offered to the public, thus maintaining their percentage of ownership.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when entrusted with care of money or property.

Votes

Formal indications of a choice made from among options or decisions, often used in the context of elections or decision-making processes in organizations.

Revised Model Business Corporation Act

An updated model statue designed to serve as a comprehensive guide for the structuring and governance of corporations in the United States.