Match the Term with Its Definition

question 26

Multiple Choice

Match the term with its definition.
-A long-term loan to purchase a building or land

• A)balance sheet
• B)debt
• C)debt ratio
• D)dividends
• E)income statement (profit and loss statement)
• F)interest expense
• G)mortgage
• H)operating expenses
• I)owners' equity
• J)retained earnings
• K)total asset turnover

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Definitions:

Ambrosia

In classical mythology, is the food of the gods, believed to confer immortality; in modern contexts, it can refer to something very pleasing to taste or smell.

Bubble Gum

A type of chewing gum that is designed to be more elastic so that it can be blown into bubbles by the chewer.

Utility Function

A mathematical representation of how consumers rank different bundles of goods based on the satisfaction or utility those goods provide.

Indifference Curve

A graphical representation of different bundles of goods between which a consumer is indifferent, showing the combinations of two goods that give the consumer the same level of satisfaction.