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Table 12-1 -Refer to Table 12-1

question 96

Multiple Choice

Table 12-1
$\begin{array}{|l|c|c|}\hline {\text { Product }} & \text { Quantity } & \text { Price } \\\hline \text { Sweatshirts } & 50 & \$ 35.00 \\\hline \text { Dental examinations } & 40 & 75.00 \\\hline \text { Coffee drinks } & 1,000 & 4.00 \\\hline \text { Coffee beans } & 2,000 & 0.50 \\\hline\end{array}$
-Refer to Table 12-1.Suppose that a simple economy produces only four goods and services: sweatshirts,dental examinations,coffee drinks,and coffee beans.Assume all of the coffee beans are used in the production of the coffee drinks.Using the information in the above table,nominal GDP for this simple economy equals

Recognize the definition and implications of a deficit in the Retained Earnings account.

Distinguish between the requirements and options under IFRS and ASPE regarding financial statements.

Calculate and understand the significance of return on common shareholders' equity.

Identify the roles and responsibilities of shareholders, board of directors, and management in a corporation.

Definitions:

Ethical Implications

The positive or negative effects a decision or action may have on ethical principles.

Formal Proposal

A detailed and structured document or presentation intended to outline a plan or offer, usually submitted in a professional or academic context.

RFP

Request for Proposal, a document issued by an organization inviting suppliers to submit proposals for products or services.

Formality

The degree of adherence to established rules, protocols, or standards of behavior and dress in communication or social interactions.