Cash and Accounts Receivable Are Both a Part Of

question 84

Multiple Choice

Cash and accounts receivable are both a part of:

• A) assets.
• B) retained earnings.
• C) liabilities.
• D) common shares.
• E) preferred shares

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Definitions:

Comparative Advantage

The capacity of a person, business, or nation to create a product or offer a service with a smaller opportunity cost compared to its rivals.

Opportunity Cost

The cost of missing out on the next best alternative when making a decision.

Total Output

The total quantity of goods or services produced by a firm or an economy in a specific period.

Comparative Advantage

The ability of a country or individual to produce a good or service at a lower opportunity cost than competitors.