Which of the Following Statements Is False

question 24

Multiple Choice

Which of the following statements is false?

• A) After a firm decides on its credit standards, it must next establish its credit terms.
• B) The decision of how much credit risk to assume plays a large role in determining how much money a firm ties up in its payables.
• C) Knowledge of the payments pattern is also useful for forecasting the firm's working capital requirements.
• D) An aging schedule categorizes accounts by the number of days they have been on the firm's books.

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Definitions:

Wiretap Act

U.S. legislation that prohibits the unauthorized interception or recording of wire, oral, and electronic communications.

Hacking

The unauthorized access to or control over computer network security systems for some illicit purpose.

Involuntary Manslaughter

A legal term for unintentionally causing another person's death, without malice aforethought, typically due to reckless or negligent behavior.

Intoxicated

A state of being affected by alcohol or drugs to a degree that impairs one's judgment, movement, and perception.