When Calculating Costs Associated with the Sale of an Item

question 9

Multiple Choice

When calculating costs associated with the sale of an item, which of the following are included in the net realisable value?

• A) Marketing, manufacturing and selling costs.
• B) Manufacturing, selling and distribution costs.
• C) Marketing, selling and distribution costs.
• D) Marketing and distribution costs.

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Definitions:

Fiscal Policy

Government policy regarding taxation and spending to influence the economy.

John Maynard Keynes

A British economist whose theories on the causes of prolonged unemployment and the importance of governmental fiscal and monetary policies founded Keynesian economics.

Federal Budget Deficit

The shortfall that occurs when the U.S. government's expenditures exceed its revenues within a fiscal year.

GDP

Gross Domestic Product, or GDP, represents the overall market value of all ultimate goods and services manufactured domestically in a specific timeframe.