Spending by Businesses on Things Such as Machines and Buildings

question 348

Multiple Choice

Spending by businesses on things such as machines and buildings which can be used to produce goods and services in the future is

• A) investment.
• B) consumption.
• C) consumption goods.
• D) savings.

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Definitions:

Income Summary

An account used in the closing process that summarizes the revenues and expenses for an accounting period, ultimately reflecting the period's net income or loss.