(Figure: Determining Surplus 2) in the Graph, Consumer Surplus Is

question 233

Multiple Choice

(Figure: Determining Surplus 2) In the graph, consumer surplus is equal to

• A) $12.
• B) $15.
• C) $25.
• D) $30.

---

Definitions:

Accounts Payable Subsidiary Ledger

A book or file that contains, in alphabetical order, the name of the creditor and amount owed from purchases on account.

F.O.B. Destination

A shipping term indicating that the seller pays for transportation and is responsible for the goods until they are delivered to the buyer's location.

Merchandise Account

An account used to track the buying and selling of goods for resale in the normal course of business.

Perpetual Inventory Method

An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.