Which of the Following Statements Is NOT True

question 89

Multiple Choice

Which of the following statements is NOT true?

• A) An example of a valuation/allocation assertion would be that property, plant and equipment are listed in the noncurrent section of the Balance Sheet.
• B) An example of an existence/occurrence assertion would be that sales in the income statement represent exchanges of goods or services that actually took place.
• C) An example of a completeness assertion would be that the notes payable account in the balance sheet includes all such obligations of the entity.
• D) An example of a rights/obligations assertion would be that amounts capitalised for leases in the balance sheet represent the cost of the entity's rights to leased property.

---

Definitions:

White Blood Cells

Defense cells in the immune system tasked with safeguarding the body against infections and foreign entities.

Spleen

An organ located under the ribcage in the upper left part of the abdomen, involved in filtering blood, recycling red blood cells, and immune response.

Palatine Tonsils

A pair of soft tissue masses located at the rear of the throat, which are part of the immune system and help to defend the body from infection.

Thymus Gland

An organ in the upper chest that develops T-cells for the immune system; it gradually shrinks after puberty.