Aria Purchases a Coffee Cup from Her Local Gas Station

question 146

Multiple Choice

Aria purchases a coffee cup from her local gas station for $5.00 that can be refilled at any time for $0.50. Economists would say that the $5.00 she spent on the cup is:

• A) an opportunity cost.
• B) a sunk cost.
• C) a marginal cost.
• D) The money spent on the cup can be all of these costs.

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Definitions:

Reliability

The consistency and dependability of data or an instrument, often measured over time to ensure stability and accuracy in results.

Accounting Records

Accounting Records are documentation and books that comprise all the financial statements, ledgers, and other pertinent financial information about a business.

Days' Sales Uncollected

A financial ratio that measures the average number of days it takes for a company to collect payment after a sale has been made.

Accounts Receivable

Accounts receivable refers to the amount of money that customers owe to a company for goods or services that have been delivered but not yet paid for.