Which of the Following Statements Is FALSE

question 82

Multiple Choice

Which of the following statements is FALSE?

• A)There is a cause-and-effect relationship between the cost driver and the amount of cost.
• B)Fixed costs have cost drivers over the short run.
• C)Over the long run all costs have cost drivers.
• D)Volume of production is a cost driver of direct manufacturing costs.

Define and differentiate between iconic and echoic memory.

Explain the four components of working memory and their relevance to cognitive tasks.

Describe the Brown-Peterson task and its implications for understanding short-term memory.

Identify and explain the three main types of memory according to the modal model of memory.

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Definitions:

Net Income

The income a business retains following the deduction of all expenses, taxes, and costs from its overall revenue.

Total Assets

A corporation's complete asset portfolio, which includes both current assets and assets held for a longer period.

Post-Closing Trial Balance

A list of all accounts and their balances after the closing entries have been made, ensuring that debits equal credits in preparation for the next accounting period.

Temporary Accounts

Accounts that are closed at the end of the accounting year, including income, expense, and withdrawal accounts, to prepare the company for the new fiscal year.