_____ is a market-based pollution abatement scheme in which emissions are limited and sources must hold tradable permits equal to the amount of their discharges.
a) Command-and-control
b) Carbon tax regime
c) Cap and trade
d) Carbon fees with rebates
Answer: c) Cap and trade
Business
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If the ending inventory is understated for any reason, net income will be overstated
a. True b. False Indicate whether the statement is true or false
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Which of the following best describes a trial balance?
a. It is a required financial statement. b. It is a financial statement that can be used in place of the income statement. c. It is a numerical list of all accounts used by a company. d. It is a tool used to prove the equality of debits and credits in the general ledger.
Business