Which Adjustment(s)must Be Made to Convert Net Domestic Product to GDP

question 67

Multiple Choice

Which adjustment(s) must be made to convert net domestic product to GDP?
I.add indirect taxes
Ii.subtract subsidies
Iii.add depreciation

• A)i and iii only
• B)i,ii and iii
• C)ii only
• D)iii only
• E)i and ii

Realize the significance of measuring and analyzing return on assets as a performance indicator.

Understand the purpose and time frame covered by the balance sheet and income statement.

Comprehend the structure and components of the four basic financial statements.

Recognize the role of technology in modern accounting practices.

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Definitions:

Continental Collision

A convergent plate boundary that involves the collision of two masses of continental crust.

Transform Faulting

The process of two tectonic plates sliding past each other along a transform fault, leading to significant horizontal displacement.

Seafloor Spreading

The process by which two oceanic plates move apart and new magmatic material is added between the plates.

Continental Rifting

The pulling apart of a continent, forming a low, fault-bounded trough (continental rift); may lead to a divergent plate boundary that leads to seafloor spreading and splitting apart a continent.