Which of the Following Statements Is Incorrect

question 60

Multiple Choice

Which of the following statements is incorrect?

• A)Budget deficits raise the national debt.
• B)The concepts of deficit and debt are closely related.
• C)Getting rid of the deficit eliminates accumulated debt.
• D)Budget surpluses lower the national debt.

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Definitions:

Profitable Product

A product that generates more revenue than the costs associated with its production, distribution, and sale, contributing to a company's profit.

Sarbanes-Oxley Act

A U.S. law enacted in 2002 aimed at protecting investors from fraudulent accounting activities by corporations.

Fraud

A deliberate act of deception intended for personal gain or to cause a loss to another party.