Which of the Following Statements Is False

question 18

Multiple Choice

Which of the following statements is false?

• A)The income statement covers a period of time.
• B)A loss on the sale of plant and equipment is considered a peripheral activity and is not reported on the income statement.
• C)Rent expense is a component of operating income.
• D)Interest expense is not a component of operating income.

---

Definitions:

Pre-Prison Levels

Refers to the conditions or state of a person or situation before being incarcerated, implying a comparison with life or conditions in prison.

Sentenced To Prison

The legal punishment where an individual is required to spend a specified period of time incarcerated in a prison facility.

Hedonic Treadmill

A theory suggesting that people maintain a relatively constant level of happiness despite changes in fortune or achievements due to quickly adjusting expectations.

Happiness Or Unhappiness

A state of well-being characterized by emotions ranging from contentment and satisfaction to joy, or the lack thereof.