Wants Are Defined as Discretionary Items on the "Would Like

question 5

Multiple Choice

Wants are defined as discretionary items on the "would like to have" level.Which situation below would be considered a want (as opposed to a need) ?

• A)Jake needs/wants food.
• B)Jake needs/wants water.
• C)Jake needs/wants transportation.
• D)Jake needs/wants a Dodge pickup truck.
• E)Jake needs/wants a t-shirt.

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Definitions:

Payables Turnover Rate

An efficiency ratio that measures how quickly a company pays off its suppliers, calculated as cost of goods sold divided by average accounts payable.

Accounts Payable Balance

The total amount of short-term liabilities or obligations a company owes to its creditors or suppliers.

Sales

The total revenue generated from goods or services sold by a company during a specific period.

COGS

Stands for Cost of Goods Sold, which is the direct costs attributable to the production of the goods sold by a company.