Which of the Following Statements About Income Is Not True

question 20

Multiple Choice

Which of the following statements about income is not true?

• A) Income includes capital contributed by owners of the entity.
• B) Income can be in the form of decreases of liabilities.
• C) Income arises when there is control over the increase in economic benefits.
• D) Income results in increases in economic benefits.

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Definitions:

Intellectual Property

Legal rights which result from intellectual activity in the industrial, scientific, literary, and artistic fields, protecting creators' interests.

Privacy Laws

Privacy Laws are regulations designed to protect individuals' personal information and data from being misused, ensuring their privacy is respected and safeguarded.

Copyright

A legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, or sale of their original works.

Whaling Attack

A whaling attack is a specialized form of phishing that targets high-profile individuals within an organization, like executives, with the intent to steal sensitive information or gain access to their networks.