Which of the Following Is Least Likely to Be a Normal

question 62

Multiple Choice

Which of the following is least likely to be a normal good?

• A) Steak.
• B) Airline travel.
• C) Bologna.
• D) A house.

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Definitions:

Expense Account

An account used to record expenditures incurred by a company, relating to its operational activities.

Supplies

Items used in the day-to-day operations of a business, typically consumable in nature, such as office supplies, cleaning materials, and manufacturing components.

Accounts Payable

Accounts payable are liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Service Revenue

The income earned by a company for the services it has provided to its customers.