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What was the amount of net increase or decrease in the cash

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Reference no: EM132777107

Problem 1: Information that is material means that an error or alternative method of handling a transaction

a. could increase the profitability of a company.

b. would not affect the decisions of users.

c. would possibly affect the judgment of someone relying on the financial statements.

d. might cause a company to understate its earnings for the accounting period.

Marvel Shoes

Marvel Shoes reported the following items on its statement of cash flows for the current year:

Net cash inflows from operating activities $ 70,000

Net cash outflows from investing activities (20,000)

Net cash outflows from financing activities (40,000)

Cash balance at the beginning of the year 30,000

Problem 2: Read the information about Marvel Shoes. What was the amount of net increase or decrease in the cash balance for Marvel Shoes for the current year?

a. $70,000 increase

b. $40,000 increase

c. $30,000 increase

d. $10,000 increase

Reference no: EM132777107

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