Which Statement Best Describes a Good

question 65

Multiple Choice

Which statement best describes a good?

• A) Goods are physical objects.
• B) Goods are the only currency that can be used in an exchange.
• C) Goods are intangible concepts and thoughts about ideas or causes.
• D) Goods are the benefits organizations receive for selling products and services.
• E) Goods can be either tangible or intangible.

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Definitions:

Premium

The amount by which the cost of a financial instrument or insurance policy exceeds its face value or principal.

Interest Expense

Financial obligations an entity must meet for the use of borrowed capital over a set period.

Interest Paid

The total amount of interest paid by the borrower to lenders over a specific period of time for the use of borrowed funds.

Premium

The amount paid for an insurance policy, above the standard cost or for bonds, it's the amount by which the bond's selling price exceeds its face value.