Throwing Away One Plastic Bag May Seem Inconsequential to an Individual,but

question 220

Multiple Choice

Throwing away one plastic bag may seem inconsequential to an individual,but across the world 500 billion plastic bags are used every year and thrown away,which causes environmental damage.This is an example of

• A) a carbon-neutral lifestyle.
• B) the cost-benefit ratio.
• C) the tragedy of the commons.
• D) learned helplessness.

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Definitions:

IFRS

International Financial Reporting Standards; a set of global accounting standards that provide guidance on how to report financial events.

GAAP

GAAP refers to the widely recognized set of accounting norms and guidelines followed in the U.S. for preparing financial statements.

Fair Value

The amount one would obtain from selling an asset or the cost to transfer a liability, in a smooth transaction with market players on the day of valuation.

Identifiable Intangible Assets

Non-physical assets that can be separated from the company and sold, transferred, or leased, such as patents and trademarks.