Which of the Following Statements Is Incorrect

question 32

Multiple Choice

Which of the following statements is incorrect?

• A)The North American Industry Classification System (NAICS)was created jointly by the United States,Canada,and Mexico.
• B)For the NAICS,economic units with similar production processes are classified in the same industry,and the lines drawn between industries demarcate differences in production processes.
• C)NAICS provides enhanced industry comparability among the three NAFTA trading partners.
• D)NAICS divides the economy into twenty sectors.
• E)In most sectors,NAICS provides for compatibility at the industry (six-digit)level.

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Definitions:

Controlling

A phase in the management process that consists of monitoring the operating results of implemented plans and comparing the actual results with the expected results.

Choosing Goals

The process of identifying desired outcomes or objectives to guide decision-making and actions.

Managerial Accounting

The practice of analyzing, interpreting, and providing information to management for planning, decision making, and operational control.

Past Data

Historical information and statistics that are analyzed for trends, forecasting, or decision making in various contexts.