1.) ABC Corporation has a beginning Cash balance of $40,000. The company has total cash inflows of $500,000 and total cash outflows of $490,000 during the period. What is ABC's ending Cash balance?

	$30,000
	$50,000
	$540,000
	$40,000

2.) If a company reports $400,000 in its Property and Equipment t-account and $180,000 in its Accumulated Depreciation t-account, the balance for 'Property and equipment, net' on the company's balance sheet will be $220,000.

	True
	False