Double-Entry Bookkeeping Implies That

question 58

Multiple Choice

Double-entry bookkeeping implies that:

• A)profits cannot be negative because profit equals the value of final output less costs.
• B)profits fill the gap between the sum of employee compensation, rents and interest on the one hand and the value of final output on the other hand.
• C)aggregate income net of profits is less than the value of final output because profit can add or take away from final output.
• D)aggregate income net of profits is greater than the value of final output because profit can add or take away from final output.

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Definitions:

Approach-approach

A conflict situation where an individual must choose between two desirable outcomes.

Incompatible demands

Situations or expectations that are at odds with one another, making it difficult to comply with both simultaneously.

Approach-avoidance

A psychological conflict that occurs when an individual is simultaneously drawn to and repelled by the same object, goal, or activity.

Avoidance-avoidance

A psychological conflict involving a choice between two undesirable outcomes or situations.