During Year 2, Chico Company Earned $1,950 of Cash Revenue

question 35

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.

---

Definitions:

Long Run

The long run is a period in economics sufficient for all markets to reach equilibrium, where all inputs can be considered variable, and companies can adjust all costs.

Pollution Free

An attribute of products, services, or practices that do not release harmful contaminants into the environment.

Clean Town

An initiative or effort to maintain a town or city in an environmentally friendly and litter-free condition.

Housing Prices

The amount of money required to purchase residential properties, influenced by factors such as location, demand, and economic conditions.