Which of the Following Is FALSE? GDP Can Be Calculated

question 109

Multiple Choice

Which of the following is FALSE? GDP can be calculated by summing:

• A)total market value of all final goods and services produced in a country in a given year.
• B)all factor payments within a country's borders in a given year.
• C)the value added for all goods and services.
• D)government spending and tax revenues.

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Definitions:

Support Department Allocations

The method of distributing the costs of support departments to producing or other service departments that benefit from the activities of the support departments.

Profit Center

A division or branch of a company that is treated as a separate unit for the purpose of assessing its profitability.

Support Department Allocations

The process of distributing indirect costs from support departments to producing departments based on relevant allocation bases.

Operating Income

Operating income is the amount of profit realized from a business's operations after deducting operating expenses such as wages, depreciation, and cost of goods sold.