Which of the Following Is a Result of Aggressive Accounting

question 66

Multiple Choice

Which of the following is a result of aggressive accounting practices?

• A)Lower income,higher assets,and higher liabilities.
• B)Higher income,higher assets,and lower liabilities.
• C)Lower income,lower assets,and higher liabilities.

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Definitions:

Trade Balance

The difference in value between a country's imports and its exports over a certain period, indicating the balance of trade.

Current Account

The current account is a component of a country's balance of payments that includes the balance of trade, net primary income, and net income from abroad.

Capital Account

The capital account, in international economics, refers to part of a country's balance of payments that records all transactions involving the purchase or sale of assets.

Gold Standard

A monetary system in which the value of a country's currency is directly linked to a fixed amount of gold, allowing for the conversion of currency into a specified amount of gold.