Which of the Following Statements Is False on Theoretical Grounds

question 76

Multiple Choice

Which of the following statements is false on theoretical grounds?

• A)It is possible that all goods are normal.
• B)It is possible that all goods are inferior.
• C)It is possible that all goods are essential.
• D)It is possible that all goods are inessential.

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Definitions:

Unearned Rent Revenue

Income received for rent that has been paid in advance by a tenant but not yet earned by the landlord.

Wages Payable

Wages payable is a liability account that records the amounts owed to employees for work that has been performed but not yet paid.

Capital Lease Contracts

Lease agreements that transfer substantially all risks and rewards of ownership from the lessor to the lessee, effectively treated as a purchase.

Computer Software

Computer Software encompasses programs and operating information used by a computer, directing how the hardware processes data and performs tasks.