Which of the Following Statements Is Not Correct

question 45

Multiple Choice

Which of the following statements is not correct?

• A)An ombudsman is a link between a citizen and government bureaucracy.
• B)An ombudsman investigates complaints about administrative actions and decisions by government departments.
• C)Each State and Territory has its own ombudsman.
• D)The word ombudsman means seeker of truth.

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Definitions:

Total Assets

The sum of all current and non-current assets owned by an entity, representing the total resources available for use in operations or to pay liabilities.

Expenses

The outflow of money or assets to another entity as a result of a company's operations or activities intended to generate revenue.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing owner’s equity in the company.

Total Liabilities

The combined amount of obligations and debts a company owes to outside parties that must be repaid.