Which of the Following Statements Is False

question 1

Multiple Choice

Which of the following statements is false?

• A) In some instances,simple majority voting leads to a project being undertaken even though the total costs of the project exceed the total benefits.
• B) Simple majority voting fails to take into account the intensity of individuals' preferences.
• C) Public choice economists often explain low voter turnouts in terms of the individual costs and benefits of voting.
• D) If an individual will only vote if he or she feels that his or her vote will make a difference in the election,it is likely that he or she will vote.

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Definitions:

Equity

The residual interest in the assets of a company after deducting liabilities, representing the ownership interest of shareholders.

Note Payable

An obligation in the form of a promissory note, which requires the borrower to pay back the loan or debt to the lender at a future date.

General Journal

The primary accounting record used to record all types of transactions not assigned to other journals.

Equipment

Tangible property that is used in the operations of a business and has a useful life of more than one year.