Which of the Following Represents the Basic Principle of Public

question 63

Multiple Choice

Which of the following represents the basic principle of public choice theory?

• A)Politicians act consistently in the public's interest.
• B)Politicians follow their own self-interest and seek to maximize their reelection chances, rather than promote the best interests of society.
• C)Politicians act in the public interest once they are elected, but follow their own self-interest and seek to maximize their reelection chances during a political campaign.
• D)None of the above answers are correct.

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Definitions:

Financial Accounting

The field of accounting concerned with the summary, analysis, and reporting of financial transactions related to a business, to external stakeholders.

Managerial Accounting

Managerial accounting involves the provision of financial and non-financial decision-making information to managers, focusing on the internal needs of a business.

Managerial Accounting

The process of identifying, measuring, analyzing, and communicating financial information to managers for the pursuit of an organization's goals.

Nonfinancial Information

Data related to a company’s operations that is not expressed in monetary terms.