Which of the Following Is a Consumption Good That Would

question 68

Multiple Choice

Which of the following is a consumption good that would be counted in GDP?

• A) A new bicycle purchased from Walmart
• B) A vintage bottle of wine purchased at an auction
• C) A washing machine purchased at a garage sale
• D) Newly issued stock purchased online

---

Definitions:

Valuation Allowance Accounts

Accounts used to reduce the carrying value of assets to an amount that approximates their fair value, especially when it is impossible to realize the entry value.

Balance Sheet Accounts

Financial accounts that are reported in the balance sheet, including assets, liabilities, and equity accounts, representing a company's financial position at a specific point in time.

Trading Investments

Securities bought and held primarily for selling them in the near term to profit from their price fluctuations.

Other Comprehensive Income

A component of total comprehensive income that includes unrealized gains and losses affecting shareholders' equity not included in net income.