An Accounting Identity

question 98

Multiple Choice

An accounting identity

• A) ensures that all balances will be in equilibrium.
• B) is useless in analyzing balance of payments since one cannot tell from the identity whether an equilibrium exists or not.
• C) ensures a balance but does not ensure an equilibrium.
• D) applies only to plans of economic agents and not to their actual actions.

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Definitions:

Binomial Name

The two-part scientific name of an organism, consisting of the genus and species, used in the taxonomy system for classifying and naming organisms.

Manatee

Aquatic, mostly herbivorous mammals known as sea cows, found in coastal waters and rivers.

Classification Categories

The hierarchical system used in biology to organize and categorize all life forms based on shared characteristics and ancestry.

Inclusive

An approach or policy that ensures all people, regardless of their differences, have equal access, opportunities, and rights.