In 2012 in Canada,the Percentage of GDP That Was Spent

question 56

Multiple Choice

In 2012 in Canada,the percentage of GDP that was spent on consumption was approximately:

• A) 56 percent.
• B) 50 percent.
• C) 33 percent.
• D) 16 percent.

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Definitions:

Reported Income

The earnings of a company as reported in its financial statements, in accordance with the accounting standards.

Book Value

Represents the net value of a company's assets as recorded on the balance sheet, calculated as assets minus liabilities.

Fair Value

The market-based measurement of the value of an asset or liability based on current transactions between willing parties, outside of a forced liquidation or distress sale.

Acquisition Method

An accounting technique used in consolidations that involves recording the assets and liabilities of a company being acquired at their fair value at the date of acquisition.