Which of the Following Statements Is Not True

question 41

Multiple Choice

Which of the following statements is not true?

• A)All U.S. government budget deficits were due to war or recession.
• B)The U.S. federal debt in 2009 was about $7.6 trillion.
• C)Government debt represents about 1 percent of a typical worker's lifetime resources.
• D)Forward looking parents can reverse adverse effects of government debt.

---

Definitions:

Equivalent Units

A concept used in cost accounting to standardize the quantity of production output, facilitating the calculation of costs per unit in processes with partial completion.

Process Costing

A cost accounting system used where production occurs through continuous processes or batches, aggregating costs over a specific period to calculate per-unit costs.

Weighted-Average Method

A method of valuing inventory and determining cost of goods sold that uses the average cost of all units available for sale during the period.

Assembly Department

Assembly Department is a specific section within a manufacturing company where components are assembled into final products.