Scott Is Out Shopping at the Local Bookstore and Stumbles

question 261

Multiple Choice

Scott is out shopping at the local bookstore and stumbles on a rare 20-volume set of The Civil War Years: Crisis, Peril, and Triumph. He has wanted this set for years, but unfortunately right now, he's unable to afford it. If the personality structures proposed by psychoanalytic theory could talk, what would the superego likely say in this situation?

• A)"Get it! Get it! Get it!"
• B)"Talk to the book store owner, see if you can put a small down payment on it to hold it, and then start saving up the money any way that you can."
• C)"You really need this set of books. Why not just charge the whole thing on your already overburdened credit card?"
• D)"You always want things you can't afford. You need to spend your money on necessities, not luxuries."

---

Definitions:

Accounts Receivable

Money owed to a business by its clients for goods or services that have been delivered or used but not yet paid for.

Current Assets

Current assets include all assets that a company expects to convert into cash or use up within one business cycle, such as cash, inventory, and accounts receivable.

Statement of Financial Position

A financial statement that displays an entity's assets, liabilities, and equity as of a specific date, commonly known as a balance sheet.

Statement of Comprehensive Income

The statement of comprehensive income is a financial statement that presents a company's total income, including both net income and other comprehensive income items not recognized in profit and loss statements.