Sheri,a US

question 10

Multiple Choice

Sheri,a U.S.citizen,works only in Germany.The value she adds to production in Germany is included

• A)in both German GDP and U.S.GDP.
• B)in German GDP,but is not included in U.S.GDP.
• C)in U.S.GDP,but is not included in German GDP.
• D)in neither German GDP nor U.S.GDP.

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Definitions:

Contingencies

Conditional liabilities or assets that may arise due to future events, whose effects cannot be determined with certainty at the present time.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific time, showing assets, liabilities, and equity.

Lawsuit Loss

Financial damages that a company is required to pay as the result of legal judgment or settlement of a lawsuit.

Probable Loss

An estimated loss from a contingent liability that is likely to occur and can be reasonably estimated.