Which of the Following Statements Best Describes the Current View

question 1

Multiple Choice

Which of the following statements best describes the current view on genetically modified foods?

• A) GM foods have gained wide acceptance throughout the world as people realize the improvements that can be made from genetic modifications.
• B) Many important companies in the United States and abroad are requiring the suppliers of their food to use genetic modification in order to decrease prices.
• C) Although a small group of consumers are boycotting GM foods, most countries have widely adopted and encouraged their development.
• D) Several countries have opposed GM foods, and some large companies have stopped using them in their products.
• E) Nearly all countries are banning the use of GM products.

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Definitions:

Dividends Distributed

The portion of a company's earnings paid out to shareholders.

Accounting Equation

The basic principle underlying accounting that asserts that Assets = Liabilities + Equity, illustrating the balance among what a company owns and owes at any point in time.

Asset Accounts

Accounts that record the resources owned or controlled by a company that have future economic value.

Journal Entry

An accounting transaction recorded in a company's financial records, which includes a description, the accounts affected, and the amounts debited and credited.