Which of the Following Statements Is Incorrect

question 7

Multiple Choice

Which of the following statements is incorrect?

• A) Many costs eventually become expenses.
• B) A cost that provides future economic benefits is treated as an asset.
• C) To accountants, the terms cost and expense always mean the same thing.
• D) An expense is the consumption or loss of resources that will result in a decrease in equity.

Analyze factors determining the actual benefit of government subsidies.

Evaluate the effects of market interventions, such as price controls, on supply and demand and overall economic welfare.

Predict the effects of prohibitions on products and their impact on market dynamics and societal welfare.

Understand the impact of government subsidies on market price and how it benefits consumers and producers.

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Definitions:

Positive Reinforcement

A technique used to encourage desired behaviors by offering rewards or positive outcomes when those behaviors are exhibited.

Shaping

The process of reinforcing successive approximations of a desired behavior, gradually guiding an individual towards the target behavior.

Classroom

A learning environment or space where teaching and instruction take place, often within a school.

Stimulus Control

The degree to which conditions in the environment influence the occurrence of a specific behavior.