Which of the Following Statements Is FALSE

question 17

Multiple Choice

Which of the following statements is FALSE?

• A)Low productivity in the agricultural sector in developing countries means that farm output per person is barely sufficient to feed a farmer's own family.
• B)Income tends to be more equally distributed in developing countries than in developed countries.
• C)The percentage of the labor force employed in urban areas is greater in developed nations than in developing nations.
• D)Developed nations account for only about one-quarter of the world's population,but they consume about three-quarters of the world's output.

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Definitions:

Adjustment Recorded

The act of documenting changes to accounts to correct or update financial information.

Subsidiary Ledgers

Detailed records that contain information about transactions supporting the amounts reported in one or more general ledger accounts, helping to maintain financial accuracy and provide detailed transactional reports.

General Ledger Accounts

General ledger accounts encompass the complete set of financial accounts and records used by a company to keep track of its financial transactions and prepare financial statements.

Accounts Receivable

Financial obligations of customers towards a business for delivered but unsettled goods or services.