Which of the Following Statements Is False

question 36

Multiple Choice

Which of the following statements is false?

• A)Whether you gain or lose during a period of inflation depends on whether your income rises faster or slower than the prices of things you buy.
• B)Inflation that is higher than expected benefits debtors and inflation that is lower than expected benefits creditors.
• C)When unanticipated inflation occurs regularly, the degree of risk associated with investments in the economy increases.
• D)There are no costs or losses associated with inflation when it is fully anticipated.

Identify the most important and often used instruments by addictions counselors.

Understand the concept and classification of investment securities (available-for-sale, held-to-maturity, and trading).

Calculate and report income, gains, or losses associated with investment securities.

Identify and apply the accounting treatments for premiums, discounts, and amortization related to bond investments.

---

Definitions:

Chart of Accounts

A systematic list of accounts that a company uses for the organization of its financial transactions and to prepare financial statements.

Salaries Expense

The cost incurred by a company for the salaries of its employees.

Journal Entry

A record in accounting that notes the details of a financial transaction.

Posting Reference

An alphanumeric code or number used to identify the original journal entry in the ledger, facilitating the tracking of transactions and their origins in accounting records.