Which of the Following Are Characteristics of Common-Pool Resources (CPRs)

question 24

Multiple Choice

Which of the following are characteristics of common-pool resources (CPRs) ?

• A) It is difficult to exclude anyone from using them.
• B) Use by one person reduces the availability of that resource for use by others.
• C) CPRs cannot be governed or regulated.
• D) Both A and B

---

Definitions:

Beginning Inventory

The value of goods available for sale at the start of an accounting period, critical for calculating cost of goods sold and inventory levels.

LIFO Cost-Flow

An inventory valuation method where the last items of inventory purchased are the first ones to be used or sold, standing for Last In, First Out.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Beginning Inventory

The value of goods available for sale at the start of an accounting period.