Which of the Following Statements Is False

question 48

Multiple Choice

Which of the following statements is false?

• A) The formation of the ozone layer enabled life on land to evolve.
• B) CFCs are odorless and stable.
• C) CFCs are nonflammable, nontoxic, and noncorrosive.
• D) Fluorine atoms are most responsible for the breakdown of ozone to molecular oxygen.
• E) CFCs are cheap to produce.

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Definitions:

Consolidated Financial Statements

Financial statements that aggregate the financial position of a parent company and its subsidiaries into one document, showing the overall health of the corporate group.

Inventory Purchase

The acquisition of goods and materials that a company intends to sell, considered as a current asset on the balance sheet.

Perpetual Inventory Method

A method of accounting that instantly documents the sale or acquisition of inventory utilizing computerized point-of-sale systems and software for managing enterprise assets.

Gross Profit Rate

The ratio of gross profit (sales minus cost of goods sold) to net sales, showing the efficiency at which a company produces its goods.