D. Higher education costs continue to rise and create problems for students.
Explanation:
The two major types of nonproduction transactions that are not included in GDP are financial transactions, such as buying and selling stocks and bonds, and secondhand sales, such as buying a used car or furniture. These transactions do not involve the production of new goods or services and therefore do not contribute to the overall output of the economy.
Answer:
The equation states that Assets = Liabilities + Equity.
The equation applies to all transactions and events.
The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.
The relation of assets, liabilities and equity is reflected in the equation.
Source: Trust me bro
The statement accurately describes the fundamental concept of the accounting equation, which states that the total assets of a business must equal the total liabilities and equity.
The correct statements that explain how the accounting equation applies to businesses are:
A. **The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.**
It highlights the balance between what a business owns (assets) and what it owes (liabilities and equity).
E. **The equation states that Assets = Liabilities + Equity.**
Explanation: This statement is a direct representation of the accounting equation.
It shows the relationship between a company's assets (what it owns), its liabilities (what it owes to external parties), and its equity (the residual interest of the owners).
This equation must always hold true in accounting.
The other statements (B, C, and D) do not accurately describe the accounting equation or its application to businesses:
B. The equation does not apply to all transactions.
It provides a framework for understanding the relationship between assets, liabilities, and equity, but individual transactions may involve specific accounts within these categories.
C. The equation presented here is not an accurate representation of the accounting equation.
Revenues and expenses are related to the income statement, while the accounting equation relates assets, liabilities, and equity.
D. This statement is not accurate.
Total revenues do not always equal total liabilities and assets; they are related to the income statement and do not directly affect the balance reflected in the accounting equation.
For similar questions on accounting equation
#SPJ6
A global marketing strategy refers to a marketing strategy used by a firm or a company to be able to compete worldwide. This is used to promote or market its products or services worldwide. This strategy is taken in response to the different international trading aspects and global market conditions.
A global marketing strategy refers to the plan or approach that a company uses to market its products or services internationally.
A global marketing strategy refers to the plan or approach that a company uses to market its products or services internationally. It involves developing a consistent marketing message while considering the cultural, economic, and legal differences in different markets. For example, a global marketing strategy might involve adapting advertisements, packaging, and pricing to suit the preferences and regulations of different countries.
#SPJ3