Which of the Following Is NOT a Result of Completeness

question 38

Multiple Choice

Which of the following is NOT a result of completeness and rankability?
I. A person prefers one consumption bundle to another.
II. A person is indifferent between two consumption bundles.
III. A person likes jelly beans more than hamburgers.

• A) I
• B) II
• C) III
• D) None of the above

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Definitions:

Amortisation of Goodwill

The gradual write-off of the purchased goodwill of a company over time, reflected as a non-cash expense in the income statement.

Associate's Profit

The portion of profits attributable to a company's investment in an associate, typically accounted for using the equity method.

Equity Accounted Balance

A valuation method used in accounting for investments, where the investment is initially recognized at cost and subsequently adjusted for the investor’s share of the investee’s net assets changes, including profits and losses.

Profit/(Loss)

The financial result of a business's operations for a specific period, calculated as income minus expenses. If positive, it's a profit; if negative, a loss.