Which One of the Following Statements Is Correct

question 41

Multiple Choice

Which one of the following statements is correct?

• A)Real GDP and GDP are always equal in the base year.
• B)GDP always exceeds real GDP in the base year.
• C)2009 real GDP will exceed 2008 GDP if 2009 production is greater than 2008 production.
• D)Unlike GDP,real GDP includes estimates of voluntary and underground economic activity.
• E)If deflation occurs from 2008 to 2009,then the 2009 real GDP must be greater than the 2008 GDP.

Identify and understand the impact of personal and external events on life decisions and changes.

Recognize the importance and impact of education in career shifts and personal development.

Understand the emotional and financial implications of job loss.

Analyze and reinterpret life challenges as opportunities for growth and change.

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Definitions:

Internal Control Standards

The policies and procedures implemented by a company to ensure the integrity of financial and operational information, promote accountability, and prevent fraud.

Sarbanes-Oxley

The Sarbanes-Oxley Act is a U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to securities laws, and to prevent corporate and accounting fraud.

U.S. Exchanges

Marketplaces in the United States where securities, options, and futures are traded.

Conceptual Framework

An organized system of objectives and fundamentals that can lead to consistent standards in accounting and guides the selection of transactions to be accounted for.