Refer to the Information Provided in Table 21

question 56

Multiple Choice

Refer to the information provided in Table 21.2 below to answer the questions that follow.
Table 21.2
The data in the table was used to estimate the following consumption function: C = 12 + 0.4Y.
-Refer to Table 21.2. The error for point B is equal to

• A) -3.
• B) -2.
• C) +2.
• D) +3.

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Definitions:

Qualitative Characteristics

Aspects that contribute to the usefulness of financial information, including its relevance and reliability.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, presenting the financial performance and position at a given period.

Qualitative Characteristics

The attributes that make the information provided in financial statements useful to users, such as relevance and reliability.