Which of These Is Not an Example of an Accounting

question 61

Multiple Choice

Which of these is not an example of an accounting estimate?

• A)Useful life of a depreciable asset
• B)Impairment of asset
• C)Long service leave provided
• D)Accounts payable

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Definitions:

Production Targets

Specific goals set for the quantity of products to be produced within a certain time frame.

Invisible Hand

A concept introduced by Adam Smith to describe the self-regulating nature of the market, where individual self-interests unintentionally benefit the economy as a whole.

Market Failures

Circumstances where a free market's distribution of goods and services is inefficient, frequently warranting the involvement of the government.

National Economic Plan

A comprehensive strategy formulated by a government to stabilize the economy and stimulate growth.