Differences in Scientific Judgement Between Economists Is Similar to All

question 426

Multiple Choice

Differences in scientific judgement between economists is similar to all of the following except

• A) astronomers debating whether the sun or earth was at the center of the solar system.
• B) meteorologists debating the existence of global warming.
• C) two politicians arguing about the fairness of the tax code.
• D) explorers debating whether or not the earth was flat before the time of Christopher Columbus.

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Definitions:

Revenue

The increase in assets or decrease in liabilities resulting from the sale of goods or the performance of services in the normal course of business.

ASPE

Accounting Standards for Private Enterprises; a set of accounting policies and procedures specifically for private companies in Canada.

Sales Account

An account in the general ledger that records the revenue generated from goods and services sold by a company during a specific period.

Defective

Pertaining to a product or component that has a flaw or imperfection that prevents it from functioning as intended.