Which of the Following Statements Is Not True

question 119

Multiple Choice

Which of the following statements is not true?

• A)Assets must always equal liabilities plus shareholders' equity.
• B)The total value of credits in all accounts must always equal the total value of debits in all accounts.
• C)The net changes in assets must always equal the sum of the net changes in liabilities and shareholders' equity.
• D)The number of credits posted must equal to number of debits posted.

---

Definitions:

Compounded Monthly

A financial term indicating the interest on a deposit or loan is calculated and added to the principal amount each month; it emphasizes the frequent interest capitalization as opposed to annual.

Investor

A person or organization that invests money anticipating to gain financial profits.

Base Metal Mining

The extraction of non-precious metals such as copper, zinc, nickel, and lead from the earth.

Decline

A decrease in the importance, quantity, or intensity of something.