Which of the Following Statements Is Incorrect

question 126

Multiple Choice

Which of the following statements is incorrect?

• A) As the population rises, the market demand curve shifts to the right.
• B) As a greater fraction of the population becomes elderly, the demand for medical services will tend to increase.
• C) Changes in the composition of the population affect the demand for a product.
• D) None of the statements associated with this question are incorrect.

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Definitions:

General Ledger

A complete record of all financial transactions over the life of a company, organized by accounts.

Income Statement

A financial statement that summarizes revenues, expenses, and profits or losses of a business for a specific period.

Financial Statement

A document that presents a detailed financial status of a company, including balance sheets, income statements, and cash flow statements, at a specific point in time.