Refer to the Table Below A)$10,375
B)$10,175
C)$10,025
D)$6,925

question 24

Multiple Choice

Refer to the table below.GDP in this economy is equal to $$\begin{array} { | l | r | } \hline \text { Irnports } & \$ 100 \\\hline \text { Exports } & 75 \\\hline \text { Consurnption } & 5,000 \\\hline \text { Private Irvestrnent } & 1,000 \\\hline \text { Durables } & 750 \\\hline \text { Services } & 2,500 \\\hline \text { Government Expenditures } & 950 \\\hline\end{array}$$

• A)$10,375
• B)$10,175
• C)$10,025
• D)$6,925

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Definitions:

Functional Currency

The primary currency of the primary economic environment in which an entity operates, used in its financial reporting.

Subsidiary

A company controlled by another company, known as the parent company, through the ownership of more than half of its voting stock.

Inventory

The raw materials, work-in-progress products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Temporal Method

A method used in accounting to translate foreign currency transactions into the reporting currency of a business.