Which of the Following Statements Is Incorrect

question 100

Multiple Choice

Which of the following statements is incorrect?

• A) An adjusted trial balance shows the account balances after they have been revised to reflect the effects of end-of-period adjustments.
• B) Interim financial reports can be based on one-month or three-month accounting periods.
• C) The fiscal year is any 12 consecutive months used by a business as its annual accounting period.
• D) Property, plant, and equipment are long term assets.
• E) The cash basis of accounting is consistent with GAAP.

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Definitions:

Food Intake

The amount and type of food consumed by an individual or organism over a given period.

Maternal Nutritional Intake

The consumption of nutrients by a mother during pregnancy which affects not only her health but also the health and development of her unborn child.

Malnourished

The condition resulting from not consuming the right balance of nutrients, leading to either undernutrition or overnutrition.

Fetal Development

The process of growth and development within the womb from conception to birth, including the formation of organs and structures of the fetus.