Which of the Following Statements Is False

question 14

Multiple Choice

Which of the following statements is false?

• A) The contingency approach is just common sense
• B) Common sense excels in well-known scenarios with predictable outcomes
• C) Common sense requires less effort than finding the real problem
• D) Common sense can be overly subjective
• E) Common sense is weak in unexpected situations

---

Definitions:

3-Way Match

A process in accounts payable to compare the purchase order, delivery receipt, and invoice before processing a payment, ensuring accuracy and preventing fraud.

Internal Control

A framework used by businesses to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Vendor Transactions

Financial interactions or exchanges between a business and its suppliers or service providers.

QBO

QuickBooks Online, a cloud-based financial management software used for business accounting.