Which of the Following Statements Is Incorrect

question 85

Multiple Choice

Which of the following statements is incorrect?

• A)Ending inventory exceeds beginning inventory when purchases are greater than cost of goods sold.
• B)Cost of goods sold exceeds purchases when ending inventory is less than beginning inventory.
• C)Cost of goods available for sale will always be equal to or greater than cost of goods sold.
• D)Ending inventory is greater than beginning inventory when purchases are less than cost of goods sold.

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Definitions:

Connotation

The implied or associative meaning of a word or phrase, beyond its literal definition.

Talent

An innate or acquired ability to perform a task or activity with high competence and skill.

Ability

The possession of the means or skill to perform a task or action.

Metaphor

A rhetorical device where a word or phrase is attributed to an object or action that doesn't literally apply to it.