Positive Accounting Theory Is Based on an Economic Assumption That

question 24

Multiple Choice

Positive accounting theory is based on an economic assumption that all individuals act in their own self-interest and are wealth maximisers. This economic assumption is referred to as the:

• A) responsible economic person assumption.
• B) logical economic person assumption.
• C) rational economic person assumption.
• D) reasonable economic person assumption.

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Definitions:

Article III

Refers to the third article of the United States Constitution, which establishes the judicial branch of the federal government, outlining the powers and structure of the federal courts.

Injury In Fact

A concrete and actual or imminent harm to an individual, which is necessary to establish standing in legal proceedings.

Environmental Protection

Measures and actions aimed at conserving and restoring the environment and preventing further damage or degradation to ecosystems.

Pope Francis

The head of the Catholic Church and sovereign of the Vatican City State, known for his efforts to modernize the church and address contemporary issues.