Which of the Following Is False

question 120

Multiple Choice

Which of the following is false?

• A) Adjusting entries are made at the end of an accounting period.
• B) Adjusting entries are not necessary under the cash basis of accounting.
• C) The cash account will usually be affected by adjusting entries.
• D) Adjusting entries always affect at least one revenue or one expense account and at least one asset or liability account.
• E) Adjusting entries are used to record the effects of internal economic events.

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Definitions:

Racial Prejudice

Racial Prejudice involves preconceived negative judgments or opinions about individuals based on their racial or ethnic background.

Discrimination Coefficients

Measures that quantify the extent to which different groups are treated differently based on certain attributes.

Labor Demand

Refers to the quantity of labor that employers are willing and able to hire at a given wage rate in a given time period.

Statistical Discrimination

Statistical discrimination happens when assumptions are made about individuals based on aggregate statistics or stereotypes rather than personal attributes.