Which of the Following Would Be Classified as 'Goods' Within

question 44

Multiple Choice

Which of the following would be classified as 'goods' within the meaning of the Sale of Goods Act?

• A)The repair of a watch.
• B)A house.
• C)A cheque.
• D)Apples picked from an apple tree.

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Definitions:

Probability Distributions

Mathematical functions that describe all the possible values and likelihoods that a random variable can take within a given range.

Cost of Capital

The cost of funds used for financing a business, calculated as the weighted average of debt and equity costs.

Capital Budgeting

The process of evaluating and selecting long-term investments that are in line with the firm's goal of wealth maximization.

Real Option

The ability to take a course of action that under certain circumstances leads to a benefit. The circumstances that make the action desirable are uncertain, and maintaining the ability to take it requires expenditures before that uncertainty is resolved. Hence, bearing the preliminary cost gives one the option of taking an action in the future that may or may not turn out to be desirable.