Which of the Following Is Not Correct

question 38

Multiple Choice

Which of the following is not correct?

• A) A person may be paid a wage higher than he or she is worth, if he or she works in a risky profession.
• B) A person in a risky profession will likely be paid more than a person of equal skills in another profession.
• C) It is possible that a person will turn down a higher-paying job because his or her current job provides many nonmonetary benefits.
• D) By increasing his or her human capital, a worker can expect to receive a higher wage.
• E) If there were no compensating wage differential, there would be a shortage of workers in risky professions.

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Definitions:

Assets

Resources owned by a company that have economic value and can provide future benefits.

Correcting Entry

A journal entry made to amend an error in the financial statements.

Closing Entry

Entries recorded at the conclusion of an accounting period for the purpose of shifting balances from temporary accounts to permanent ones.

Balance Sheet Account

An account displayed on the balance sheet, which includes assets, liabilities, and equity accounts, representing a snapshot of a company's financial position at a specific point in time.