Adding External Costs to the Cost of Goods and Services

question 42

True/False

Adding external costs to the cost of goods and services would counter the amount people now pay for poor health, high-priced insurance, and other pollution control.

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Definitions:

Balances

The amount of money or value remaining in financial accounts, such as in banking or accounting.

December 31

The last day of the year, commonly used as a cutoff date for accounting and financial reporting purposes.

Reported

Refers to the provision of formal statements or accounts of financial activities or conditions.

Net Income

Net income refers to the total profit of a company after all expenses, taxes, and deductions have been subtracted from total revenue.