Educational Services Provided by Public Schools Are

question 190

Multiple Choice

Educational services provided by public schools are:

• A)included in GDP at market prices.
• B)included in GDP at cost.
• C)excluded from GDP because they are not sold in markets.
• D)excluded from GDP because they are intermediate goods.

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Definitions:

Owners' Equity

The total value belonging to the owners of a company, calculated as the company's total assets minus its total liabilities, indicative of the net worth.

Net Worth

The total value of an individual's or organization's assets minus liabilities, representing the financial health or value of the entity.

Dividends

Payments made by a corporation to its shareholder members, distributing a portion of the company's earnings.

Objective of Accounting

The main purpose of accounting, which is to record financial transactions, summarize and report financial information accurately for decision making.