Which of the Following Statements Is False

question 104

Multiple Choice

Which of the following statements is false?

• A) The imprest petty cash system in effect adheres to the rule of disbursement by check.
• B) Entries are made to the Petty Cash account only to increase or decrease the size of the fund or to adjust the balance if not replenished at year-end.
• C) The Petty Cash account is debited when the fund is replenished.
• D) All of these answers are false.

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Definitions:

Environmental Standard

Regulations and criteria set by governments or international bodies to protect the environment and limit pollution.

Quantity of Pollution

This term refers to the amount or volume of pollutants released into the environment, typically measured in terms of mass per unit time.

Marginal Social Cost

The additional cost imposed on society due to the production or consumption of one more unit of a good or service.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product that is homogenous across suppliers, leading to price competition and efficiency.