Which of the Following Is NOT a True Statement

question 28

Multiple Choice

Which of the following is NOT a true statement?

• A) Expenses are closed with a credit
• B) Revenues are closed with a debit
• C) Dividends are closed with a credit
• D) Retained Earnings are closed with a debit

---

Definitions:

Nondiscriminating Firms

Businesses that offer the same terms, conditions, and prices to all customers without any form of prejudice or favoritism.

Taste-For-Discrimination Model

An economic model that explains how personal preferences and biases of employers, workers, or consumers can lead to discrimination in hiring, wages, and consumer purchases.

Higher Wages

Wages that are above the average or standard level, often resulting from increased demand for labor, higher productivity, or specialized skills.