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The cost principle is the basis for preparing financial statements because it is __________.
Weegy: Prepare means: to put in proper condition or readiness. User: The cost of an asset and its fair market value are __________. User: The major reporting standard for management accounts is User: The price of a good that prevails in a world market is called the User: The price of a good that prevails in a world market is called the A. absolute price. B. relative price. C. comparative price. D. world price Weegy: The price of a good that prevails in a world market is called world price. User: Which of the following statements about GDP is correct? A. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate. B. Money continuously flows from households to government and then back to households, and GDP measures this flow of money. C. GDP is to a nation’s economy as household income is to a household. D. GDP increases if the total population increases. Weegy: A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money. User: Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________. A. the value to Maurice of the option he would have chosen had Option B not been available B. the value to Maurice of Options A, C and D combined C. $100 D. $300 Weegy: The opportunity cost of this decision is (the value to Maurice of the option he would have chosen had Option B not been available.) User: Game theory is important for the understanding of __________. A. competitive markets B. monopolies C. oligopolies D. all market structures Weegy: Ways the government promotes marketplace competition: ? Enforcing antitrust legislation to discourage the development of monarchy User: ... (More)
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