Which One of the Following General Statements Is Incorrect -

question 36

Multiple Choice

Which one of the following general statements is incorrect -

• A) you cannot post an entry if debits do not balance with credits
• B) you must post an entry in order to review or display it
• C) displaying your general journal entry may uncover errors
• D) all of the above are correct

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Definitions:

Available Resources

The assets, materials, and inputs that are available for use in the production of goods and services.

Inferior Technology

Technology that is less efficient or effective compared to the available alternatives.

Production Possibilities Frontier

A curve depicting the maximum feasible combinations of two or more goods or services an economy can produce when all resources are fully and efficiently utilized.

Circular-flow Diagram

A Circular-Flow Diagram represents an economic model visually demonstrating the movement of money through markets between households and companies.