Select the Correct Word for Each Sentence

question 17

Multiple Choice

Select the correct word for each sentence. Colin did not have the correct (fair, fare) to ride the bus.

• A) fair
• B) fare

---

Definitions:

Cost of Goods Sold

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

Sales-Type Lease

A lease arrangement where the lessor recognizes profits from both the sale of the leased asset and the interest on the lease payments.

Unguaranteed Residual Value

The estimated end-of-lease value of an asset that is not guaranteed by the lessee or a third party.

Gross Profit

The difference between sales revenue and the cost of goods sold before deducting selling, general, and administrative expenses.