Which of the Following Is Not a Secondary Good

question 50

Multiple Choice

Which of the following is not a secondary good?

• A) joining an adult sports team
• B) completing an apprenticeship
• C) finding meaning and purpose in life
• D) studying at university

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Definitions:

Accounts Receivable

The money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Installment Accounts Receivable

Amounts owed by customers for purchases made on credit that are to be paid in regular, periodic installments.

Non-current Asset

An asset that is not expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business.

Promissory Note

A written promise to pay a specified amount of money to a certain entity on demand or at a fixed or determinable future time.