Which Is Not One of the Five Fundamental Questions

question 34

Multiple Choice

Which is not one of the Five Fundamental Questions?

• A)How will the goods and services be produced?
• B)How will the system accommodate change?
• C)Who will get the goods and services?
• D)What goods and services should be produced by government?

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Definitions:

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the U.S. to govern financial reporting and ensure consistency.

Accounting Standards

Rules and guidelines used in the preparation and presentation of financial statements to ensure accuracy, completeness, and consistency.