Which of the Following Is Not Correct

question 94

Multiple Choice

Which of the following is not correct?

• A)Gross domestic product is both total income in an economy and total expenditures on the economy's output of goods and services.
• B)In a closed economy net exports are zero.
• C)National saving is the sum of private saving and public saving.
• D)Purchases of capital goods are excluded from GDP.

Understand the criteria for determining reportable segments under IFRS 8.

Comprehend the requirements for interim financial statements for public companies as per IFRS.

Identify key disclosures required for operating segments according to IFRS 8.

Understand the significance of different thresholds in determining reportable segments.

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Definitions:

Choice Set

A set of all possible options available for a consumer or a decision-maker in a given context.

Budget Constraint

The limitations on the purchasing power of a consumer, stemming from their income and the prices of goods and services.

Clothing

Clothing and items donned on the body, usually crafted from textiles or cloths.

Food

Consumable items produced through agriculture, farming, hunting, fishing, or food processing that individuals eat for nutrition and pleasure.