Which of the Following Statements Is False

question 14

Multiple Choice

Which of the following statements is false?

• A) Deferred Inflows of Resources have a credit balance but they do not represent obligations of the reporting entity
• B) Deferred Outflows of Resources have a debit balance but are not assets of the reporting organization.
• C) Fund Balance is analogous to the capital of an investor-owned entity.
• D) Only items specifically identified in GASB standards may be reported as deferred inflows or deferred outflows.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.