Which of the Following Is Not Correct

question 173

Multiple Choice

Which of the following is not correct?

• A) American families save a larger fraction of their incomes than their counterparts in many other countries such as Germany and Japan.
• B) Saving is an important long-run determinant of a nation's standard of living.
• C) A change in tax laws that encouraged greater saving would lower interest rates.
• D) Taxes on interest income can substantially decrease the future value of current saving.

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Definitions:

Adjusting Entries

Financial records made upon the completion of an accounting cycle to allocate gains and deductions to the actual period in which they occurred.

Insurance Expired

Indicates the end of an insurance policy's coverage period.

Chart of Accounts

An organized list of all the accounts in a company’s general ledger, used for classifying and summarizing financial transactions.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.