During 2013, Chi Company earned $950 of cash revenue, paid $600 of cash expenses, and paid a $100 cash dividend to its owners. Based on this information alone,
A)net income amounted to $350.
B)total assets increased by $250.
C)cash inflow from operating activities was $350.
D)all of these are correct.

Question

Quizplus · Accepted Answer

Revenue minus expenses equal net income ($950 - $600 = $350). Total assets increased by $250 ($950 - $600 - $100). Cash from operating activities increased by $350 ($950 - $600).

During 2013, Chi Company Earned $950 of Cash Revenue, Paid