Which of the Following Transactions Would Enter Directly into the Determination

question 82

Multiple Choice

Which of the following transactions would enter directly into the determination of GDP?

• A) a bicycle you purchased at a garage sale
• B) the retirement check your uncle received for spending 25 years in the Marine Corps
• C) the DVD player you purchased from Best Buy
• D) the five shares of Microsoft stock your grandparents gave you for making an A in economics

Comprehend the significance of the Statute of Frauds in enforcing oral contracts and the exceptions.

Recognize the role of quasi-contracts in providing a remedy where a formal contract is unenforceable.

Understand the specific circumstances under which specific performance is an appropriate remedy.

Understand the concept and importance of customer service as the new marketing.

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Definitions:

Net Present Value

A method used to evaluate the profitability of an investment, calculating the difference between the present value of cash inflows and outflows.

Operating Cash Flows

The cash generated from the normal operations of a business, such as revenue from sales after operating expenses are deducted.

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be consumed or sold within a year.

Salvage Value

The projected remaining worth of an asset upon reaching the end of its serviceable life.