Which of the Following Is Not Correct

question 3

Multiple Choice

Which of the following is not correct?

• A)Economists have two roles: scientist and policy adviser.
• B)As scientists,economists develop and test theories to explain the world around them.
• C)Economic policies rarely have effects that their architects did not intend or anticipate.
• D)As policy advisers,economists use their theories to help change the world for the better.

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Definitions:

General Journal Entries

Records of financial transactions where each entry is recorded in a double-entry accounting system, impacting at least two accounts.

Terms 2/10, N/30

Terms 2/10, N/30 are payment terms indicating that a buyer can take a 2% discount on the invoice price if the payment is made within 10 days; otherwise, the net amount is due within 30 days.

Merchandise Inventory

Goods that a company holds for sale to customers, considered an asset on the balance sheet.