Which of the Following Is FALSE

question 7

Multiple Choice

Which of the following is FALSE?

• A) The federal government is the largest producer of marketing facts.
• B) All businesses share a common problem of needing information.
• C) The principal task of marketing research is to increase profit.
• D) Marketing research is only one of the aspects of a marketing strategy.
• E) Not all of the above are false.

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Definitions:

Cost of Goods Sold

Direct costs attributable to the production of goods sold by a company, including material, labor, and manufacturing overhead expenses.

Ending Inventory

Merchandise value ready for sale at the close of an accounting cycle.

Consistency Principle

An accounting standard that mandates entities to apply the same accounting methods and practices from period to period.

Expense Recognition Principle

This principle dictates that expenses should be recognized in the accounting period when they are incurred, not necessarily when they are paid, matching expenses to the revenues they help generate.