Which of the Following Goods Is Rival in Consumption and Excludable

question 294

Multiple Choice

Which of the following goods is rival in consumption and excludable?

• A) a tornado siren
• B) an uncongested toll road
• C) a home
• D) the environment

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Definitions:

Depreciable Equipment

Tangible assets, such as machinery or hardware, acquired for use in operations, which lose value over time due to usage, wear and tear, or obsolescence and can be depreciated.

Prior-Period Adjustment

Corrections of errors made in previously published financial statements, not considered ordinary adjustments.

Net Income

The net income a company earns following the subtraction of all expenses and taxes from its total revenue.

Accounting Methods

Accounting methods are the specific principles and procedures implemented by a business or organization to prepare its financial statements.