Which of the Following Would Be Considered a Public Good

question 21

Multiple Choice

Which of the following would be considered a public good in the United States?

• A) highways
• B) property
• C) gasoline and heating oil
• D) health care

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Definitions:

Short-term Obligations

Financial liabilities or debts that are due to be paid within a year.

Utilities Expense

Costs incurred by a business for basic utilities, such as electricity, water, and gas, necessary for operations.

Adjusting Entry

An accounting journal entry made at the end of an accounting period to update the accounts for accruals and deferrals that have not been recorded during the period.

Accounts Payable

This term signifies the amount of money a company owes to its suppliers or vendors for goods or services received but not yet paid for.