Which of the Following Is a Final Good

question 366

Multiple Choice

Which of the following is a final good?

• A) Seed used for corn
• B) Wheat used for bread
• C) Electricity used for producing automobiles
• D) A lawn mower purchased by a household

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Definitions:

Impairment Losses

The decrease in an asset's net carrying value that exceeds its recoverable amount.

Held-to-Maturity

A classification for investment securities that a company intends and has the ability to hold until they mature.

IFRS

IFRS stands for International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) aiming at making global financial statements more comparable, transparent, and reliable.

Marketable Securities

Marketable securities are liquid financial instruments that can be quickly converted into cash at their current market prices.