Which of the Following Is a Positive Statement

question 467

Multiple Choice

Which of the following is a positive statement?

• A) Our planet is warming because of an increased carbon dioxide buildup in the atmosphere.
• B) A minimum wage of $7.50 per hour is a shame for a rich country like the United States.
• C) Both these statements are positive.
• D) Neither of these statements is positive.

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Definitions:

Accounting Choices

The various decisions that management makes regarding the principals, methods, and practices followed in an accounting system.

Equity Book Value

The net asset value of a company as recorded on the balance sheet, calculated as total assets minus liabilities, often used to assess a company's worth.

GAAP Balance Sheet

A balance sheet prepared following Generally Accepted Accounting Principles, showcasing a company's financial position including assets, liabilities, and equity at a specific point in time.

Historical Cost

Historical cost refers to the original monetary value of an asset or expenditure recorded at the time of transaction, without adjusting for inflation or changes in market value.