Which of the Following Statements Is (Are)false? (1)

question 5

Multiple Choice

Which of the following statements is (are) false? (1) .In general,the term expense is used for managerial purposes,while the term cost refers to external financial reports.(2) .An opportunity cost is the benefit forgone by selecting one alternative over another.

• A)Only (1)is false.
• B)Only (2)is false.
• C)Both (1)and (2)are false.
• D)Neither (1)nor (2)are false.

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Definitions:

Efficiency

The ability to accomplish a task or goal with a minimum expenditure of time, effort, and resources.

Applied Economics

The application of economic theories and principles to real-world situations and problems, often to inform public policy or business strategies.

Information Technology

The use of computers and software to manage information, particularly in enterprise environments, including hardware, software, databases, and networks.

Increase Efficiency

The process of improving the effectiveness and productivity of operations, often by optimizing resources and reducing waste.