Consider the Table Below as You Answer the Questions

question 45

Multiple Choice

Consider the table below as you answer the questions: In the table, "us_gaap" would best be described as:

• A)a taxonomy
• B)a namespace
• C)an instance document
• D)an application of the FASB Conceptual Framework

---

Definitions:

Poverty Threshold

The minimum level of income deemed necessary to achieve an adequate standard of living in a given country or area.

Minimum Annual Income

The lowest yearly income deemed necessary for a person or family to meet their basic living expenses.

Necessities

Necessities are basic needs or essential items required for living, such as food, clothing, and shelter.

Ability-To-Pay Principle

A taxation principle that suggests taxes should be levied according to an individual or entity's ability to afford them, often implying higher taxes for those with higher income.