Which of the Following Is an Example of a Positive

question 183

Multiple Choice

Which of the following is an example of a positive statement?

• A)Households are the primary source of saving.
• B)Government should not redistribute income.
• C)Business firms ought to contribute more to charities.
• D)The foreign sector should be more tightly controlled.

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Definitions:

Recorded

The process of recording business financial transactions into the accounting books.

Accrued Revenues

Revenues for services performed but not yet received in cash or recorded.

Received

Typically refers to the acknowledgement of having gotten something, such as goods or payments, within a business context.

Recognized

In accounting, recognized refers to the formal acknowledgment in financial statements that a transaction or event has impacted the entity's financial position or performance.