Based on a Careful Reading of the "What's a Good

question 91

Multiple Choice

Based on a careful reading of the "What's a good test?" discussion in Chapter 4's Everyday Psychometrics feature,the BEST conclusion one could reasonably draw is

• A) "you get what you pay for."
• B) "sometimes things are neither fish nor fowl."
• C) "simple questions do not necessarily have simple answers."
• D) "it's an ill wind that blows nobody good."

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Definitions:

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Selling Price

The amount at which an item or service is sold to the customer.

Outstanding Balance

The amount of money owed on a loan or credit account that has not yet been repaid.

Invoice

A document indicating a transaction between a buyer and a seller, listing the goods or services provided along with their prices and the total amount due.