There Are 65 Members of an Organization

question 68

Multiple Choice

There are 65 members of an organization. The plan for disseminating news requires one member to contact two others with the information. Each member who receives the news contacts two members who have not yet gotten the news. This continues until all members have the information. How many members contact others?

• A)64
• B)48
• C)32
• D)16

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting guidelines that provide a global framework for how public companies prepare financial statements.

Lower of Cost

An accounting principle requiring that inventory be recorded at the lower of its original cost or current market value.

Matching

An accounting principle where expenses are recorded in the period they are incurred to generate revenues.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.