Which of the Following Statements in Relation to Non-Current Assets

question 22

Multiple Choice

Which of the following statements in relation to non-current assets is untrue?

• A)They are held for sale or consumption.
• B)They may be tangible or intangible.
• C)May vary in classification according to the nature of the business.
• D)They are generally held for generating wealth.

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Definitions:

Price

The expense associated with buying a product or service.

Miles

A unit of distance measurement equal to 5,280 feet or approximately 1.609 kilometers, used primarily in the United States and the United Kingdom.

Perfect Substitutes

Goods or services that can be used in exactly the same way and are interchangeable in consumption or use.

Income Effect

The variation in a person's or an economy's earnings and its effect on the amount of a product or service that is requested.