In Economics, an Organization That Produces a Good or Service

question 43

Multiple Choice

In economics, an organization that produces a good or service is called a

• A)firm.
• B)company.
• C)business.
• D)All of the above are correct.

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Definitions:

Consolidated Statements

Financial statements that aggregate the financial position and operations of a parent company and its subsidiaries, showing the financial results of the entire group as a single entity.

Future Date

A specified date that is set in the future, relevant in contexts such as finance for contracts or planning events.

Translation Loss

A decrease in the value of a company's assets or income due to changes in exchange rates when consolidating financial statements of subsidiaries in foreign currencies.

U.S. Dollars

The currency of the United States, widely used as a standard of exchange in international markets.