Which Transaction Will Be Included in the Official Measurement of GDP

question 123

Multiple Choice

Which transaction will be included in the official measurement of GDP?

• A) Stan sold his 2015 Honda to his sister.
• B) Monica illegally downloaded movies to her laptop.
• C) Ben bought a textbook from his friend who took the class last semester. .
• D) Sean bought a new truck.

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Definitions:

Loss on Disposal

A financial loss that occurs when the selling price of an asset is less than its carrying amount.

Revenue Account

An account that shows the income generated by a business from its normal operational activities.

Fully Depreciated

A status of a fixed asset when its book value is reduced to zero through depreciation over its useful life, assuming it has no salvage value.

Discarded

Refers to items or materials that have been thrown away or disposed of because they are no longer useful or required.