Which Element of the Financial Statements Results from Peripheral or Incidental

question 141

Multiple Choice

Which element of the financial statements results from peripheral or incidental transactions?

• A) gains
• B) revenues
• C) equity
• D) liabilities

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Definitions:

Positive Externality

A benefit received by third parties not directly involved in an economic transaction, like the environmental benefits from a public park.

Semiconductor Industry

A sector focused on the manufacturing of semiconductors, which are essential components of electronic devices.

Public Park

An area of open space provided for recreational use, usually owned and maintained by a city or national government.

Marginal Social Benefit

The additional benefit received by society from the consumption of one more unit of a good or service.