Which of the Following Statements Is Not Correct

question 262

Multiple Choice

Which of the following statements is not correct?

• A)A reduction in money income will shift the budget line to the right.
• B)A reduction in money income accompanied by an increase in product prices will necessarily shift the budget line to the left.
• C)An increase in product prices will shift the budget line to the left.
• D)An increase in money income will shift the budget line to the right.

Differentiate between assets, liabilities, and stockholders' equity.

Understand the recording and impact of business transactions.

Recognize the assumptions and principles underpinning financial reporting.

Identify the components and purpose of key financial statements.