Which of the Following Statements Is False

question 116

Multiple Choice

Which of the following statements is false?

• A)An expense is a cost incurred to generate revenues.
• B)Selling assets at a gain does not result in earning revenue.
• C)Revenues are reported on the income statement as they are earned.
• D)Revenues result in an increase in net income and additional paid-in capital.

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Definitions:

Organizational Stories

Narratives shared within a company that convey values, history, and culture, often used to inspire, teach, or reinforce social norms.

Overcomes Obstacles

The act or process of identifying challenges and devising strategies to deal with them effectively, ensuring goals or tasks are accomplished despite difficulties.

Organizational Stories

Narratives shared within a company that convey values, history, and culture, often shaping the organization's identity.

Artifacts

Objects made by humans that are typically regarded as cultural or historical significance.