A Country That Has Met and Exceeded Its Target Emissions

question 14

Multiple Choice

A country that has met and exceeded its target emissions goals can sell 'credits' to countries that have not yet met their targets. This is specifically known as ______.

• A) market-based mechanisms
• B) emissions trading
• C) clean development mechanisms
• D) stabilization wedges

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Prepayments

Payments made in advance for goods or services, which are recorded as assets on the balance sheet until the corresponding goods or services are received.

Unearned Revenue

Money received by an entity for a service or product yet to be delivered or performed.

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period before financial statements are prepared.