Which of the Following Purchases by Households Is Considered as Consumption

question 45

Multiple Choice

Which of the following purchases by households is considered as consumption expenditure for the purposes of national-income accounting?

• A)legal services
• B)a new house
• C)a Government of Canada Treasury bill
• D)tractors for use on a family farm
• E)the purchase of company stock

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Definitions:

Business Users

Individuals or groups within an organization who utilize and apply business data and information in their decision-making processes.

Statement Of Owner's Equity

A financial document that shows changes in the owner's equity account over a period, including contributions, withdrawals, and the business's net income or loss.

Current Year

The period of time from January 1 to December 31 of the present calendar year.

Statement Of Cash Flows

A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents.