Which of the Following Organizations Is an Example of the Goods-Producing

question 98

Multiple Choice

Which of the following organizations is an example of the goods-producing sector of the economy?

• A)Ford Motor Company
• B)University of Toronto
• C)Children's Hospital
• D)H & R Block Tax Consulting Firms in the goods-producing sector produce tangible products.Of the organizations listed in this question,only Ford Motor Company produces a tangible product.

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Definitions:

Economic Entity

A unit in the economy that is capable of control over resources, incurring liabilities, and engaging in business activities.

Combined Financial Statements

Financial statements that present the assets, liabilities, and operating results of two or more affiliated companies as if they were a single economic entity.

Consolidated Financial Statements

Combined financial statements of a parent company and its subsidiaries, presenting the financial position and results of operations as one entity.

Consolidated Financial Statements

Financial statements that aggregate the financials of a parent company with those of its subsidiaries.