Which Statement Is Incorrect

question 95

Multiple Choice

Which statement is incorrect?

• A)Acids can dissociate in solution to yield free hydrogen ions and anions.
• B)All substances that contain hydrogen are considered to be acids.
• C)A strong acid has a greater tendency to dissociate than a weak acid.
• D)The extent of dissociation for a given acid is a constant, K.
• E)Only free hydrogen ions contribute to the acidity of a solution.

Realize the importance of double-entry accounting for maintaining the balance in financial records.

Identify the role of source documents in the accounting process.

Understand how transactions impact business equity and financial positioning.

Understand the concepts of debit and credit in accounting.

---

Definitions:

Net Income

The profit or loss of a business after all expenses, taxes, and costs have been subtracted from total revenues.

Selling Price

The selling price is the amount a buyer pays to purchase a product or service from a seller.

Contribution Margin Ratio

The percentage of sales revenue remaining after variable costs are subtracted, indicating the portion contributing to covering fixed costs and generating profit.

Sales Mix

The relative proportions in which a company’s products are sold. Sales mix is computed by expressing the sales of each product as a percentage of total sales.