Which of the Following Statements Is Not Correct

question 116

Multiple Choice

Which of the following statements is not correct?

• A) When most Americans picture child labor,they think of young children working in factories.In fact,many young children in poor countries work on family farms.
• B) Many young children work in poor countries rather than attend school because education is not valued in those countries.
• C) An increase in income for families in poor countries is often associated with an increase in the number of children attending school.
• D) In the past,most policies aimed at deterring child labor focused on educating the parents about why their children should not work.

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Definitions:

Prepaid Insurance

Payments made for insurance coverage that has not yet been incurred, recorded as an asset on the balance sheet.

Supplies Account

An account used in accounting to track the amount spent on supplies that are used in the business operations.

Accounting System

A systematic process of collecting, recording, classifying, summarizing, and interpreting financial transactions of a business.

Purchases Journal

The purchases journal is an accounting record used to document all purchases of merchandise on credit, tracking the total amount owed to suppliers.