Examlex
Which of the following is an example of a normative statement?
Personal Guarantee
This is a legal promise made by an individual to repay the borrowing of a business entity in case it fails to do so, thus personally ensuring the debt.
Economic Performance
Economic performance refers to the evaluation of how effectively an economy or a specific entity manages its resources and meets its objectives, often measured in terms of productivity, efficiency, and growth.
Informational Needs
The specific data and insights required by individuals or organizations to make informed decisions.
Financial Accounting Standards Board
An independent, private-sector body that establishes and interprets Generally Accepted Accounting Principles (GAAP) in the United States.
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