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Which statement about test reliability and validity is FALSE?
Rising Prices
This term indicates an economic situation where the general level of prices of goods and services in an economy increases over a period.
Net Income
The amount of money a company earns after all expenses and taxes have been subtracted from its total revenue.
Inventory Cost
The total cost incurred to procure, produce, and store inventory, including purchase price, production, and handling costs.
Gross Profit
the difference between revenue and the cost of goods sold before deducting overhead, payroll, taxation, and interest payments.
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