One Year Many Customers' Machinery Is Wearing Out and Needs

question 60

Multiple Choice

One year many customers' machinery is wearing out and needs replacing.The following year no customers need new machinery.This is an example of demand.

• A)consumer
• B)joint
• C)fluctuating
• D)inelastic
• E)government

---

Definitions:

Stated Value

An arbitrary value assigned to no-par value stock by the board of directors of a company, used for accounting purposes.

Date Of Record

The date of record is the specific date set by a company on which the shareholders must be on the company's books in order to receive a declared dividend.

Cash Dividend

The allocation of earnings in cash form by a company to its stockholders.

Retained Earnings Deficit

A negative balance in retained earnings, indicating that a company has more accumulated losses over time than accumulated profits.