Which of the Following Statements Is NOT True

question 15

Multiple Choice

Which of the following statements is NOT true?

• A) In a unitary government, there are no state governments so direction, and accountability are clear.
• B) In a federal government, a national government and regional governments share power.
• C) In a confederation, power resides with sovereign state governments; an overarching government has some defined powers.
• D) In a unitary government power is shared between the federal government and subnational governments.

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Definitions:

Stockholders' Equity

Ownership equity represented by the leftover interest in a corporation's assets once its liabilities have been subtracted.

Account Receivable

Represents money owed to a business by its customers for goods or services delivered but not yet paid for.

Total Liabilities

Total Liabilities represent the sum of all financial obligations a company owes to outside parties, including loans, accounts payable, and mortgages.

Note Payable

A financial obligation or loan evidenced by a written promise to pay a specific amount on a future date or over a certain period.