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.

Identify and correct examples of faulty parallelism in sentences.

Choose appropriate word or phrase to complete a sentence based on context.

Correctly apply principles of subject-verb agreement.

Correctly apply principles of pronoun-antecedent agreement.

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Definitions:

Unemployment Rate

The fraction of the labor market actively in pursuit of work but is currently jobless.

Opportunity Cost

The expense associated with giving up the second-best choice in favor of opting for the preferred alternative in any decision-making process.

Production Possibilities Frontier

A graph that represents the highest possible production levels for two or more products, based on available inputs such as resources and labor.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision, crucial in evaluating the true cost of any economic choice.