Which of the Following Would Not Be Considered a Private

question 138

Multiple Choice

Which of the following would not be considered a private good?

• A)tennis shoes
• B)pizza
• C)french fries
• D)cable TV service

Describe the purpose of an audit and the requirements of the Sarbanes-Oxley Act for corporate accountability.

Calculate and understand financial ratios such as price-earnings ratio, return on stockholders' equity, and return on total assets.

Identify what constitutes an unusual item on an income statement and the implications of various unusual items.

Understand the presentation of other comprehensive income and the components of a corporate annual report.

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Definitions:

Ordinary Prudence

A standard of care that refers to the caution, attention, or skill a reasonable person would use under similar circumstances.

Standard Of Reasonable Care

A legal benchmark which dictates the level of care an ordinary, prudent person should take in a specific situation to avoid harm to others.

Blind Person

An individual who lacks visual perception due to physiological or neurological factors beyond normal refractive errors.

Reasonable Person Standard

A legal standard used to determine what a hypothetical reasonable person would do in a particular situation.