Gasoline Is Considered a Final Good If It Is Sold

question 44

Multiple Choice

Gasoline is considered a final good if it is sold by a

• A)gasoline station to a bus company that operates a bus route between San Francisco and Los Angeles.
• B)pipeline operator to a gasoline station in San Francisco.
• C)gasoline station to a motorist in Los Angeles.
• D)All of the above are correct.

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Definitions:

Notes Payable

A written agreement where the borrower promises to pay back a certain amount of money, under specific terms, to the lender at a future date.

Unamortized Discount

The portion of a bond's issue price that is below its face value and has not yet been amortized over the life of the bond.

Unamortized Premium

The portion of a bond premium that has not yet been amortized or gradually written off over the life of the bond.

Installment Note

A debt instrument that requires a series of periodic payments (installments) of principal and interest over a specific period until the debt is paid off.