Which of the Following Statements Is Incorrect

question 41

Multiple Choice

Which of the following statements is incorrect?

• A)Worldwide, more than 40 per cent of all software is illegally copied.
• B)Some companies, such as Disney, have tried to legitimise offenders by converting them into authorised licensees.
• C)Product counterfeiting has not yet spread to high-technology products and services.
• D)All the alternatives are incorrect.

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Definitions:

Generally Accepted Accounting Principles

A collection of commonly followed accounting rules and standards for financial reporting.

CRA

CRA can refer to a Credit Rating Agency, which is an organization that assigns credit ratings to issuers of certain types of debt securities, as well as the debt instruments themselves.

Economic Life

The expected period of time during which an asset is useful to the average owner, or until an asset is projected to generate economic benefits.

Tax Purposes

The reason or need to undertake specific actions or record transactions in a certain way to comply with tax laws.