Which of the Following Is FALSE

question 4

Multiple Choice

Which of the following is FALSE?

• A) Intangible assets are noncurrent assets that do not have physical substance.
• B) Obligations expected to be paid after one year are classified as long-term liabilities.
• C) Current assets are listed in the order of magnitude (size).
• D) Property, plant, and equipment are assets with relatively long useful lives that are used in operating the business.

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Definitions:

Centralized

An organizational structure where decision-making authority is concentrated at the top levels of management.

Procedures Manuals

Documents that provide a detailed description of the steps and actions required to complete specific tasks.

Highly Formalized

A description of organizations or systems where procedures and rules are strictly followed, often with detailed documentation and protocols.

Separate Product

A distinct item or entity that is produced individually or can be easily distinguished from other products in a line or category.