If People Can Be Prevented from Using It, the Good

question 42

Multiple Choice

If people can be prevented from using it, the good is:

• A)rival
• B)excludable
• C)normal
• D)exhaustible

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Merchandise Inventories

Goods that are held by a business for the purpose of resale to customers in the ordinary course of business.

Sales Budget

An estimate of expected sales revenue for a period, forming the basis for planning production, inventory, and cash flow.

Cash Receipts

The total amount of money received by a company during a given period, including all sources of income and revenue.