A Good Is ________ If It Takes Even a Small

question 164

Multiple Choice

A good is ________ if it takes even a small amount of time,energy,or money to acquire.

• A) abundant
• B) in shortage
• C) cheap
• D) scarce
• E) virtually free

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Definitions:

Accounts Receivable Turnover

Accounts receivable turnover is a financial ratio that measures how many times a company can turn its accounts receivable into cash during a period.

Adjusting Entry

An accounting process used to allocate expenses and revenues between periods according to their occurrence and realization, ensuring that financial statements accurately reflect the financial position of a company at the end of an accounting period.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Interest Note

A promissory note that includes terms for interest payments in addition to the principal amount loaned.