Table 23-2 Suppose a Town Is to Vote on Three Possible Locations

question 14

Multiple Choice

Table 23-2
Suppose a town is to vote on three possible locations for a new park: A, B, or C. The preferences are in Table 23-2. Suppose the mayor decides on the following Borda count voting scheme: For each option, we will give one point for last place, two points for second last, and three points for the third last etc. The outcome with the most points is the winner.

-Refer to the information provided. The winner of this Borda count will be:

• A)option A.
• B)option B.
• C)option C.
• D)a tie between option A and B

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Definitions:

Gain Recognized

The profit that is realized and reported on the financial statements when an asset is sold for more than its carrying amount.

Transfer Date

The specific date on which the ownership or control of an asset is transferred from one party to another.

Consolidated Net Income

The total net income of a parent company and its subsidiaries after eliminating intercompany transactions, presented as a single figure.

Downstream Transfer

Transactions where a parent company sells or transfers assets to its subsidiary.