Which of the Following Is False

question 37

Multiple Choice

Which of the following is false?

• A)Relevance is the qualitative characteristic of accounting information that says the information would make a difference in a user's decision.
• B)Trade receivables would normally be classified as a current asset.
• C)Accumulated depreciation would normally appear in the income statement.
• D)The matching principle holds that all expenses incurred in the earning of revenue should be recognized in the same period as the revenue earned.

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Definitions:

Utility

The want-satisfying power of a good or service; the satisfaction or pleasure a consumer obtains from the consumption of a good or service (or from the consumption of a collection of goods and services).

Costly Temptations

Unnecessary expenses or indulgences that can detract from long-term financial goals and stability.

Altruistic Behaviors

Acts motivated by the intention to help or benefit another individual or group of individuals without expectation of benefit for oneself.

Impulse Buying

The act of purchasing items on the spur of the moment without premeditation, often triggered by emotions or external stimuli.