A(n)_____ Is Excludable and Rival in Consumption

question 181

Multiple Choice

A(n) _____ is excludable and rival in consumption.

• A)private good
• B)artificially scarce good
• C)public good
• D)common resource

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Definitions:

Subsidiary Ledger

A detailed ledger that contains the individual accounts with a common characteristic, linked to a general ledger account.

Accounting Information System

A system used to collect, store, manage, process, retrieve, and report financial data for the users.

Manual Accounting System

A system in which someone performs each of the steps in the accounting cycle by hand.

Special Journals

Accounting books designed for recording specific types of transactions, such as sales, purchases, cash receipts, and cash disbursements.