Goods Whose Consumption the Public Sector Promotes Are Called _______

question 55

Multiple Choice

Goods whose consumption the public sector promotes are called _______ goods, and goods whose consumption the public sector discourages are called _______ goods.

• A)Mary Poppins; sumptuary
• B)demerit; merit
• C)public; private
• D)merit; demerit

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Definitions:

Operating Activities

Activities that are directly related to the day-to-day operations of a business, such as sales, supply procurement, and employee wage payment.

Separation Of Duties

A key principle in internal control that involves dividing responsibilities among different personnel or departments to reduce risk of fraud and errors.

CPA Licenses

Certifications granted to accounting professionals who meet the education, experience, and examination requirements of their jurisdiction, allowing them to practice as Certified Public Accountants.

Insuring Assets

The act of obtaining insurance coverage to protect company assets from losses due to risks like fire, theft, or damage.