Which of the Following Statements Is Not Correct

question 107

Multiple Choice

Which of the following statements is not correct?

• A)Some firms pay wages that are above the equilibrium wage.
• B)Workers sometimes form labor unions to push their wages up.
• C)Wages never deviate from the balance of supply and demand in the market for labor.
• D)The federal government mandates that employers pay their workers at least as much as the minimum wage.

---

Definitions:

Multiple-Stage Processes

Processes in manufacturing or production that involve several distinct stages, each contributing to the completion of the final product.

Net Income Determination

The process of calculating the net income of a business by subtracting total expenses from total revenues.

Accrual Accounting

A financial reporting strategy that recognizes income and expenditures at the time they are earned or incurred, without regard to the actual movement of cash.

Operating Cash

refers to the cash that a business generates from its normal operating activities, crucial for maintaining day-to-day operations.