Which of the Following Statements Is Not Correct

question 55

Multiple Choice

Which of the following statements is not correct?

• A) A free rider is a person who benefits from something for which he or she does not have to pay.
• B) The creation of knowledge is a public good.
• C) The Tragedy of the Commons illustrates the underuse of a common resource.
• D) A gasoline tax is an imperfect solution to the problem of traffic congestion on public roads.

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Definitions:

Controller

A high-level executive responsible for overseeing the accounting operations of a company, including financial reporting and budgeting.

S-Type Corporations

A special designation that allows profits to be passed directly to shareholders without being subjected to corporate income taxes, but with limitations on number and type of shareholders.

Double Taxation

A situation in which the same income is taxed twice; this commonly applies to corporate income taxed at both the company level and again when distributed to shareholders as dividends.

Treasurer

An officer of a company or organization responsible for managing financial risks, investments, and treasury operations.