Which of the Following Statements Is False

question 10

Multiple Choice

Which of the following statements is false?

• A)The market demand curve in a perfectly competitive market is downward sloping.
• B)The firm's demand curve in a perfectly competitive market is horizontal.
• C)The firm's demand curve in a perfectly competitive market is perfectly elastic.
• D)Marginal revenue is equal to the change in total revenue divided by the change in quantity of output.
• E)none of the above

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Definitions:

Unadjusted Trial Balance

A trial balance prepared at the end of an accounting period before adjusting entries are made.

Account Title

The name given to an account that reflects the type of transaction it represents, used in accounting to classify and record financial transactions.

Retained Earnings Statement

A financial statement that summarizes the amounts retained or reinvested in the company from net income (or profit) after dividends are paid.

Stockholders' Investments

Funds or resources that shareholders commit to a company in exchange for equity ownership, contributing to the firm's capital base.