Which of the Following Statements Is False

question 20

Multiple Choice

Which of the following statements is false?

• A)Depreciation is recorded as an expense in an agency's proprietary accounts.
• B)Vacation leave cannot be accrued at year-end unless the agency has sufficient appropriated funds to pay for it.
• C)The account Undelivered orders - obligations,unpaid remains open at year-end until it is paid in the following year.
• D)If the agency receives an invoice in an amount greater than the amount of the purchase order and agrees that invoice amount is correct,an adjustment is needed to the account "Allotments - realized resources."

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Definitions:

Warranty Of Fitness

A guarantee provided by a seller that the goods or services sold will be appropriate and suitable for the specified purpose.

Express Warranty

A clearly stated guarantee provided by a seller regarding the condition or quality of a product.

Implied Warranty

An unwritten, unstated guarantee that a product will meet basic standards of quality and reliability.

Express Warranty

A seller's explicit promise or guarantee, assuring the quality or performance of a product, often included in the written contract.