Which of the Following Is True of Goods

question 167

Multiple Choice

Which of the following is true of goods?

• A) They are intangible.
• B) They must be consumed when they are produced.
• C) They can have some aspect of quality measured objectively.
• D) They require customers to be actively involved in their production.

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Definitions:

Operating Activities

Activities that are part of a company's primary business operations, such as selling goods and services.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments not included in cash equivalents.

Bonds Payable

Long-term liabilities representing money borrowed by an entity that must be repaid to creditors at a future date.