An Externality Is the Impact Of

question 21

Multiple Choice

An externality is the impact of:

• A)society's decisions on the well-being of society
• B)a person's actions on that person's well being
• C)society's decisions on the well-being of one person
• D)one person's actions on the wellbeing of a bystander

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Definitions:

Canada Revenue Agency

The federal agency responsible for administering tax laws for the Canadian government and various provinces and territories, as well as overseeing various social and economic benefit and incentive programs through taxation.

Income Tax Return

A document filed with the government that reports income, expenses, and other pertinent tax information.

Depreciation Method

A systematic approach used to allocate the cost of a tangible asset over its useful life, reflecting consumption, wear and tear, or obsolescence of the asset.

Units-of-Production Method

A depreciation method where the expense is based on the asset's usage, output, or units produced, rather than time.