Use the Following Table to Answer the Following Questions

question 61

Multiple Choice

Use the following table to answer the following questions:

-According to the table,the country with the largest increase in the debt-to-GDP (gross domestic product) ratio over the time period is

• A) the United States.
• B) France.
• C) Italy.
• D) Belgium.
• E) Australia.

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Definitions:

Goodwill

An intangible asset representing the excess of the purchase price over the fair market value of an acquired company’s net assets.

Cost Method

An accounting method used to record investments at their original purchase cost, with any changes recognized only when dividends are received or upon sale of the investment.

Fair Value

The amount one would get for selling an asset or the cost to transfer a liability in a regulated exchange among market players on the date of valuation.

Impairment Loss

A recognized reduction in the recoverable amount of a fixed asset or goodwill, indicating that it exceeds its recoverable amount.