The Price Associated with a Resource That Indicates How Much

question 71

Multiple Choice

The price associated with a resource that indicates how much more profit would be earned by increasing the amount of the resource by one unit is called ______.

• A)final cost
• B)reduced cost
• C)shadow price
• D)single price

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Definitions:

Other Accounts Column

A column in accounting journals or ledgers for recording entries that do not fit into the standard categories, ensuring all transactions are accounted for.

Cash Payments Journal

A financial journal that records all cash outflows or payments made by a business.

Other Accounts Cr.

This term likely refers to the credit (Cr.) entries in accounts other than those frequently categorized, perhaps implying adjustments or less common financial transactions.

Purchases Journals

Accounting journals used to record all purchases of goods and services on credit for the purpose of resale.