Which of the Following Statements Is False

question 46

Multiple Choice

Which of the following statements is false?

• A) There are always opportunity costs to making choices.
• B) Because of scarcity,choices must be made.
• C) Elementary education at public schools is free.
• D) When government builds a new highway,taxpayers end up with less of some of the things they would otherwise have.

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Definitions:

Enhancing Quality

The process of implementing measures and practices that improve the quality of products, services, or processes.

Materiality

An accounting principle that means the significance of financial information to decision-making; insignificant details are disregarded.

Comparability

A characteristic of accounting information that allows users to analyze two or more periods of financial data or companies to identify trends and differences.

Timeliness

The degree to which information, actions, or events occur at a suitable or opportune time, particularly in contexts requiring promptness.