Which of the Following Have Been a Significant Influence on the Development

question 5

Multiple Choice

Which of the following have been a significant influence on the development of modern accounting principles?
I. Global warming
II. Globalisation
III. Series of high-profile company failures
IV. The rise of the multinational corporation

• A) II, III and IV
• B) I, II and III only
• C) II and IV only
• D) III and IV only

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Definitions:

Maximum Profit

The highest level of profit that can be generated from operations under given conditions and constraints.

Pricing High

Setting the price of a product or service significantly above the cost of production or acquisition to achieve higher margins.

Best Response

In game theory, it is the strategy that will give a player the highest payoff, given the strategies chosen by other players in the game.

Simultaneous Game

A type of game in game theory where participants make decisions or select strategies at the same time without knowledge of the others’ choices, exemplified by the Prisoner’s Dilemma.