The Decision to Go to Graduate School Is a Rational

question 82

Multiple Choice

The decision to go to graduate school is a rational one for a college student if the

• A)cost is not too great.
• B)marginal benefit of graduate school exceeds the marginal cost.
• C)opportunity cost of graduate school equals zero.
• D)marginal cost exceeds the marginal benefit of graduate school.
• E)student carefully compared the social benefits of this decision.

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Definitions:

Closing Entries

These are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.

Income Statement

A financial statement that reports a company's revenues, expenses, and profits over a specific period, showing how net income is derived from business operations.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments, used to prepare financial statements.

End-of-period Spreadsheet

A tool used for adjusting and closing entries and for preparing financial statements at the end of an accounting period.