Permanent Current Assets Are

question 37

Multiple Choice

Permanent current assets are:

• A) accounts receivable that have become bad debts
• B) inventories that have become obsolete
• C) the level of current assets equal to fixed assets
• D) the level of current assets needed to support sales

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Definitions:

Marginal Revenue

The additional income gained from selling one more unit of a product or service.

Output

The total amount of goods and services produced by an individual, firm, industry, or economy within a certain period.

Price

The amount of money exchanged for a unit of a good or service.

Short Run

This refers to a period in which at least one input or resource is fixed, while others can be varied to adjust output.