Which of the Following Statements Is False

question 40

Multiple Choice

Which of the following statements is false?

• A)Checks and deposit slips are the main source of documents backing up the bank statement.
• B)Retailers use cash register tapes to recognize sales.
• C)Stock certificates are evidence of being a creditor of the company.
• D)Time cards are used as the source of information to record wages.

---

Definitions:

Logging Operation

The process of cutting down trees, removing them from the forest, and transporting the logs to be processed into lumber or other wood products.

Shareholders Agreement

A contract among the shareholders of a company detailing their rights, obligations, and the management of the company.

Salomon v. Salomon

A foundational company law case from the UK, establishing the principle that a corporation has a separate legal personality, distinct from its shareholders.

Secured Creditor

A creditor that has a legal claim, or lien, on collateral that secures loan repayment.