Which of the Following Represents a Liability That Will Be

question 86

Multiple Choice

Which of the following represents a liability that will be satisfied by providing goods or services?

• A)Accrued expenses
• B)Accounts receivable
• C)Unearned revenue
• D)Accumulated depreciation

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Definitions:

Efficient Price

A market price that reflects all available information and results in an allocation of resources that maximizes overall utility.

Marginal Cost

The incurred cost from generating one more unit of a product or service.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable.

Marginal Cost

The increase in total cost that arises from producing an additional unit of a good or service.