Which Statement Is Not Correct

question 2

Multiple Choice

Which statement is not correct?

• A)cost objects are the reasons for performing activities
• B)cost object describes the work performed in a firm
• C)activities cause costs
• D)cost objects create a demand for activities

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Definitions:

Implied Warranty of Fitness

An assurance, typically not expressly stated, that a product will be suitable for its intended purpose.

Particular Purpose

A specific objective or requirement for which goods or services are intended or needed, as expressed in a contract.

Lessee

A person or entity who leases or rents property from another, known as the lessor.

Merchant

A merchant is an individual or company involved in the wholesale or retail trade of goods or services.