Which Statement Is False

question 65

Multiple Choice

Which statement is false?

• A)The balance sheet of an entity purports to show the true value of the entity.
• B)The balance sheet should show a company's liquidity.
• C)The balance sheet reflects the financial capital of a company.
• D)The balance sheet summarizes the financial position of an entity at a point in time.

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Definitions:

Negligent Loading

The improper or careless loading of cargo onto a mode of transportation, leading to damage or accidents.

Trailer

A trailer is a large transportable container on wheels, designed to be hauled by a truck or tractor, used for transporting goods or as a mobile living accommodation.

Bailee

A person or entity that has been entrusted with temporary possession, but not ownership, of personal property by another, known as the bailor.

Commercial Aircraft

Airplanes designated for carrying passengers or goods, operated by airlines or cargo carriers, as opposed to military or private aircraft.