Which of the Following Activities Is Most Likely to Be

question 210

Multiple Choice

Which of the following activities is most likely to be considered rent seeking?

• A)buying an apartment building 
• B)hiring a lobbyist 
• C)voting for a politician who supports government spending 
• D)buying common stock

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Definitions:

Non-current Liability

A Non-current Liability is a financial obligation that a company does not expect to settle within the next twelve months from the reporting date.

Credit Balance

A situation where the total credits in an account exceed the total debits; it's common in liability, revenue, and equity accounts.

Risk Assessment

The process of identifying and evaluating potential risks that could negatively affect the achievement of objectives.

Internal Control

Procedures and policies implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.