Which of the Following Is Not an Example of an Accounting

question 122

Multiple Choice

Which of the following is not an example of an accounting error,as distinguished from a change in accounting principle or change in estimate?

• A) Misstatement of an accounting value, such as inventory, deferred charge or credit, liabilities, or owners' equity.
• B) Incorrect classification of expenditure as between expense and an asset.
• C) Incorrect or unrealistic allocations of accounting values.
• D) Failure to recognize accruals and deferrals.
• E) Recognition of a gain on disposal of fully depreciated property.

Explain the purpose and effects of patents, licensing, and regulatory barriers on competition and innovation.

Analyze the economic implications of legal barriers such as patents and licenses on market entry and monopolistic practices.

Understand how market demand and cost structures influence the presence and power of monopolies.

Assess the role of natural and government-enforced monopolies in the context of public and private goods.