Which of These Transactions Occurring in 2011 Would Contribute to GDP

question 6

Multiple Choice

Which of these transactions occurring in 2011 would contribute to GDP for 2011?

• A) A contractor sells a new house which was built in 2009.
• B) Mario sells his used car for a profit.
• C) Sally buys $10,000 worth of U.S.government bonds as an investment.
• D) Boeing sells a 787 aircraft produced in 2011 to a Korean airline.

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Definitions:

Chart of Accounts

A structured list of all the financial and accounting accounts used by an organization to categorize and record financial transactions.

Transaction

An agreement or exchange between two parties that involves the transfer of goods, services, or funds.

Multi-Step Income Statement

An income statement that separates operating activities from non-operating ones, showing multiple levels of income or profit.

Subtotal Amounts

Intermediate sums calculated by adding together certain items, typically within a larger calculation or accounting process.