Which of the Following Statements Is False

question 288

Multiple Choice

Which of the following statements is false?

• A)The short run refers to a period of less than one year.
• B)In the long run, all inputs can vary in quantity.
• C)Firms may continue operating at a loss in the short run.
• D)In the long run, firms would not continue operating at a loss.

Be familiar with experienced managers' strategies in problem identification and solution application.

Understand the continuum of decision procedures from autocratic to highly participative methods.

Know the organizational requirements for decision support and authorization.

Understand the different effects of participation in the decision-making process based on participant types.

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Definitions:

Deductions

Amounts subtracted from gross income or revenue to calculate net income or taxable income, including expenses, allowances, and discounts.

Employee Receivables

Amounts owed to a company by its employees, often due to overpayment or advancements.

Short-term Note Payable

A short-term note payable refers to a debt obligation that is due for repayment within a year or less.

Contingent Liability

A potential obligation that may arise depending on the outcome of a future event, not recognized on the balance sheet unless occurrence is probable and the amount can be reasonably estimated.