Which of the Following Statements Is False

question 40

Multiple Choice

Which of the following statements is false?

• A) The payroll cycle consists of one class of transactions.
• B) Balance sheet accounts related to payroll are generally more significant than related transactions.
• C) Internal controls over payroll are effective for most companies.
• D) Small companies usually have effective controls over payroll.

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Definitions:

Nonrival

A characteristic of a good or service where one person's consumption does not diminish the ability of another to consume it as well.

Excludable

A property of a good or service that allows its owner to prevent others from using it without permission.

Artificially Scarce Good

A good that has its availability limited by design or through artificial means, rather than through natural scarcity.

Cable Television

A system for delivering television programming to consumers via radio frequency signals transmitted through coaxial cables.