Which of the Following Statements Is Incorrect

question 57

Multiple Choice

 Which of the following statements is incorrect? 

• A) Democratic members of Congress tend to be consistently liberal. 
• B) Republican members of Congress tend to be consistently conservative. 
• C) Democratic members of Congress tend to be more liberal than Democratic voters. 
• D) Republican members of Congress tend to be more conservative than Republican voters. 
• E) The policy preferences of Democratic and Republican voters are generally the same.

---

Definitions:

Percent of Sales Method

A financial forecasting model that predicts future variables, such as expenses and inventory levels, as a percentage of projected sales.

Credit Sales

Sales of goods or services that are paid for at a later date, extending credit to customers.

Bad Debt Expense

An expense reported by businesses to account for receivables that are no longer collectible, affecting the net income.

Allowance for Doubtful Accounts

A contra-asset account on the balance sheet, estimating the amount of receivables that are expected to be uncollectible.