Which of the Following Goods Is Both Excludable and Rival

question 289

Multiple Choice

Which of the following goods is both excludable and rival in consumption?

• A)a wristwatch
• B)fire protection in a small town
• C)fish in the ocean
• D)efforts to fight poverty

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Definitions:

Accounting Policies

The distinct guidelines, foundations, methods, regulations, and procedures employed by an organization in the creation and disclosure of financial reports.

Financial Statements

Structured records that convey the financial activities and conditions of a business, entity, or individual, including the balance sheet, income statement, and cash flow statement.

Management's Objectives

The specific goals set by a company's management intended to guide decision-making and strategic planning for business success.

IFRS for SMEs

A simplified, self-contained set of accounting principles intended for smaller, less complex entities, based on the full International Financial Reporting Standards (IFRS).