CA Foundation Exam > CA Foundation Questions > Which of the following statements is incorrec...
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Which of the following statements is incorrect?
- a)The services of doctors, lawyers, teachers etc. are termed as production
- b)Man cannot create matter
- c)Accumulation of capital does not depend solely on income
- d)None of the above
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Which of the following statements is incorrect?a)The services of docto...
Incorrect Statement: None of the above
Explanation:
To determine which of the given statements is incorrect, let's analyze each option:
a) The services of doctors, lawyers, teachers, etc. are termed as production.
- This statement is correct. The services provided by doctors, lawyers, teachers, and other professionals are considered as part of the production process. These services contribute to the overall productivity and economic growth of a country.
b) Man cannot create matter.
- This statement is also correct. According to the law of conservation of mass, matter cannot be created or destroyed, but it can be transformed from one form to another. Although humans can manipulate and transform existing matter, they cannot create it from nothing.
c) Accumulation of capital does not depend solely on income.
- This statement is also correct. The accumulation of capital refers to the process of saving and investing money or other valuable assets to generate additional income or wealth. While income is one factor that contributes to the accumulation of capital, it is not the sole determinant. Other factors such as savings habits, investment decisions, and economic conditions also play a significant role in capital accumulation.
Therefore, the incorrect statement is "None of the above" (option D). All the other statements (a, b, and c) are correct.
Explanation:
To determine which of the given statements is incorrect, let's analyze each option:
a) The services of doctors, lawyers, teachers, etc. are termed as production.
- This statement is correct. The services provided by doctors, lawyers, teachers, and other professionals are considered as part of the production process. These services contribute to the overall productivity and economic growth of a country.
b) Man cannot create matter.
- This statement is also correct. According to the law of conservation of mass, matter cannot be created or destroyed, but it can be transformed from one form to another. Although humans can manipulate and transform existing matter, they cannot create it from nothing.
c) Accumulation of capital does not depend solely on income.
- This statement is also correct. The accumulation of capital refers to the process of saving and investing money or other valuable assets to generate additional income or wealth. While income is one factor that contributes to the accumulation of capital, it is not the sole determinant. Other factors such as savings habits, investment decisions, and economic conditions also play a significant role in capital accumulation.
Therefore, the incorrect statement is "None of the above" (option D). All the other statements (a, b, and c) are correct.
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Which of the following statements is incorrect?a)The services of doctors, lawyers, teachers etc. are termed as productionb)Man cannot create matterc)Accumulation of capital does not depend solely on incomed)None of the aboveCorrect answer is option 'D'. Can you explain this answer?
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