The Guiding Function of Prices Tends to Keep Resources Flowing

question 135

True/False

The guiding function of prices tends to keep resources flowing toward their most highly valued uses.

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Definitions:

AASB 141

This is the Australian Accounting Standards Board's standard related to Agriculture, providing the accounting requirements for agricultural activity.

IAS 41

International Accounting Standard 41, which governs the accounting for agriculture.

Estimated Costs

Costs that are predicted based on historical data, trends, and analyses, used for budgeting, planning, and decision-making purposes.