For Every Choice a Person Makes It Can Be Assumed

question 145

Multiple Choice

For every choice a person makes it can be assumed that

• A) the chooser has full knowledge of the situation.
• B) some opportunity cost was involved.
• C) there is a fifty-fifty chance the choice was the wrong one.
• D) a good is involved and satisfaction is gained.

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Definitions:

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Dishonored

Refers to a financial instrument, such as a check or promissory note, that has not been paid upon presentation because of insufficient funds or other reasons.

Interest Revenue

Income received from investments in bonds, loans, or other interest-bearing instruments, representing the compensation for lending funds or capital.

Maturity Date

The specific date on which the principal amount of a bond, loan, or other financial instrument is scheduled to be repaid.