Table 22-17 -Refer to Table 22-17. the Table Shows the Preferences for the Preferences

question 154

Multiple Choice

Table 22-17
-Refer to Table 22-17. The table shows the preferences for three types of voters over three possible outcomes: A, B, and C. The table also shows the percentage of voters of each type. Based on this information, which of the following statements is true?

• A)In a vote between B and C, C loses since only the Type 1 voters prefer C to B.
• B)In a vote between A and B, B wins getting 85% of the total vote.
• C)In a vote between A and C, C loses getting only 45% of the total vote.
• D)Both a and b.

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Definitions:

Statement Of Retained Earnings

A financial statement that outlines the changes in retained earnings for a specific period, typically impacted by net income and dividends distributed.

Functional Currency

The currency of the primary economic environment in which an entity operates and conducts its business, crucial for financial reporting.

Straight-Line Method

An accounting method of depreciation that allocates an equal amount of depreciation each year over an asset's useful life.

Currency Exchange Rates

The value of one currency for the purpose of conversion to another, indicating how much one currency is worth in terms of the other.