A Public Good Is a Good That

question 46

Multiple Choice

A public good is a good that:

• A) is owned by the public.
• B) when consumed by one individual, can still be consumed by others.
• C) when consumed by one individual, cannot be consumed by another.
• D) is available only to those people who help to pay for it.

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Definitions:

US GAAP

United States Generally Accepted Accounting Principles, the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC).

IFRS

International Financial Reporting Standards, a set of accounting guidelines that govern how financial statements are prepared worldwide.

Reporting Units

Entities for which discrete financial information is available and reviewed by the segment manager to make operating decisions.

Outstanding Stock

The total number of shares of a corporation's stock that are currently owned by all shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.