If Per Capita GDP in 2014 Was $1,000 and in 2015

question 36

Multiple Choice

If per capita GDP in 2014 was $1,000 and in 2015 was $1,200, the growth rate of per capita GDP was:

• A) 1.2 percent
• B) about 17 percent
• C) 20 percent
• D) 120 percent
• E) Not enough information is given.

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Definitions:

Accounting Elements

Fundamental categories in financial accounting that include assets, liabilities, equity, revenue, and expenses.

Financial Reports

Documents that provide an overview of the financial condition of an organization, including income statements, balance sheets, and cash flow statements.

Statements of Financial Accounting Concepts

A series of documents issued by the Financial Accounting Standards Board outlining the objectives and fundamental concepts underlying financial reporting and accounting practices.

General Objective

A broad primary goal or aim that an organization or individual plans to achieve in the long term.