The Goal of the Business Firm Is Maximization of ____

question 130

Multiple Choice

The goal of the business firm is maximization of ____, and the goal of the consumer is maximization of ____.

• A)total sales; income
• B)total profit; utility
• C)total output; utility
• D)total sales; utility

---

Definitions:

Revenue Journal

A revenue journal is a record used in accounting to keep track of the sales of goods and services that generate revenue for an entity.

Accounts Receivable

Funds that are due to a company from clients for products or services provided on credit.

Fees Earned

Revenue from providing services.

Purchases Journal

The purchases journal is a specialized accounting ledger that tracks all purchase transactions of a business, including inventory purchases on credit.