Which of the Following Is Considered an Externality

question 117

Multiple Choice

Which of the following is considered an externality?

• A) High-priced tickets to a Broadway show
• B) The long wait before being seated at popular restaurants
• C) The extra cost of gasoline, regular tune-ups, and so forth, that come with buying a car
• D) The benefits gained by society as a result of a more literate populace
• E) The opportunity costs of going to college full-time instead of working

Learn the operations and fee structures of private employment agencies.

Understand the role and formulation of performance objectives within a practicum.

Acknowledge the significance of ongoing education and information acquisition in one’s field.

Distinguish between various job search strategies and tools.

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Definitions:

Accrued Revenues

Revenues that have been earned by providing goods or services but have not yet been received or recorded.

Cash Receipts

Cash receipts are the records of all cash inflows, representing money received by a business, typically from its operational activities like sales or services.

Accrue Employee Salaries

The process of recognizing the cost of salaries earned by employees but not yet paid to them.

Salaries Expense

An income statement item representing the total amount paid to employees in the form of salaries and wages during an accounting period.