Which of the Following Is a Routine Governmental Action

question 53

Multiple Choice

Which of the following is a routine governmental action?

• A)Allocating funds for companies to make facilitation payments overseas
• B)Providing legal immunity for the employees of foreign companies
• C)Providing police protection for the transit of goods across a country
• D)Accepting payment from a foreign company in return for an exclusive contract

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Definitions:

Net Income

The total profit or loss of a company after all expenses, taxes, and costs have been subtracted from total revenues.

Expenses Overstated

A situation where the recorded amount of expenses is higher than the actual amount incurred, causing an understatement of net income.

Adjusting Journal Entry

a bookkeeping entry made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Net Income

The remaining income of a company once all taxes and costs are deducted from its total revenue.