________ Represent Rights That Cannot Be Reduced to Physical Form

question 36

Multiple Choice

________ represent rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, and copyrights.

• A) Real properties
• B) Intangible properties
• C) Fixtures
• D) Immovable properties

Comprehend the effect of income changes on demand for normal and inferior goods.

Understand the implications of input cost changes on supply.

Recognize the concept of market equilibrium and the forces that lead to its change.

Distinguish between movements along a curve versus shifts of the curve in supply and demand analysis.

---

Definitions:

GAAP

GAAP, or Generally Accepted Accounting Principles, are a set of accounting standards and procedures used in the United States to govern financial reporting and ensure consistency across industries.

IFRS

The International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that serve as a global framework for how public companies prepare and disclose financial statements.

Restated

The revision and publication of previously issued financial statements to correct errors or to adjust for changes in accounting policies.

Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including all non-owner changes in equity not resulting from investments by owners and distributions to owners.