Which of the Following Statements Is False

question 15

Multiple Choice

Which of the following statements is false?

• A) There is no need for the accounting and the reporting systems to separate economic transactions that concern the business exclusively,from those that concern its individual or corporate capital providers.
• B) A business represents a legal or economic entity that is separate from the individual or corporate capital providers.
• C) Any business must report on its economic activity by issuing periodic financial statements,even if only for tax purposes.
• D) If incorporated as a legal entity,a business can go to court,or be taken to court.

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Definitions:

Environmental Assessments

Studies or evaluations conducted to understand the impacts of various factors on the natural environment.

Information

Data processed, organized, or structured in a given context to make it meaningful or useful.

Client

In professional contexts, a client is a person or organization that uses the advice or services of a professional or company.

Likert-Type

A survey question format that presents a statement and asks respondents to indicate their extent of agreement or disagreement on a typically five or seven-point scale.