Which of the Following Is a Problem for the Idea

question 3

Multiple Choice

Which of the following is a problem for the idea of veil of ignorance?

• A) It is unclear why we should follow agreements made by people unlike us.
• B) It renders the agreements of the contractors unfair.
• C) It assures that the contractors will disagree among themselves.
• D) all of the above

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Definitions:

Operating Activities

Transactions and events related to the primary operations of a business, such as revenue from sales and expenses from operations.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Direct Method

A method of computing the net cash provided by operating activities in which the income statement is reconstructed on a cash basis from top to bottom.

Indirect Method

A reporting approach used in cash flow statements where net income is adjusted for non-cash transactions and changes in working capital to arrive at cash flow from operating activities.