Which of the Following Statements Is False

question 107

Multiple Choice

Which of the following statements is false?

• A)Reliable data are verifiable.
• B)Reliable data may be supported by objective evidence.
• C)Owner opinions are one source of objective evidence.
• D)An independent appraisal is usually considered reliable.

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Definitions:

Economic Life

The period over which an asset is expected to be usable by its owner, contributing to the owner's economic activity.

Net Operating Cash Flow

The amount of cash generated by a company's normal business operations.

CCA Class

Capital Cost Allowance Class, a categorization in tax systems for depreciation of tangible property.

Tax Rate

The proportion of income or value of goods taxed by the government, applicable to individuals, corporations, and transactions.