Which of the Following Is False

question 5

Multiple Choice

Which of the following is false?

• A) Relevance is the qualitative characteristic of accounting information that says the information would make a difference in a user's decision.
• B) The matching principle holds that all expenses incurred in the earning of revenue should be recognized in the same period as the revenue earned.
• C) Trade receivables would normally be classified as a current asset.
• D) Accumulated depreciation would normally appear in the income statement.

---

Definitions:

Progress Reports

Documents that describe the state of affairs of a project or performance, indicating what has been accomplished and what remains to be done.

Problem-Solving Reports

Documents that outline the process of identifying a problem, analyzing possible solutions, and recommending actions.

Working Papers

Documents that contain preliminary research findings, notes, or audits, often used in academic or professional settings prior to formal publication.

Summary Tables

Tables that condense and summarize data or information, presenting key points in an organized manner for quick reference.