You Are Viewing a Graph Which Compares Costs with the Amount

question 38

Multiple Choice

You are viewing a graph which compares costs with the amount of credit extended.Both the carrying costs and the opportunity costs of credit are depicted.What is the function called that represents the summation of these carrying and opportunity costs?

• A)opportunity cost curve
• B)credit extension curve
• C)credit cost curve
• D)terms of sale graph
• E)optimal sales graph

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Definitions:

Statute of Frauds

A legal principle requiring certain types of contracts to be written and signed to be enforceable, aiming to prevent fraud and misunderstandings.

UCC

The full spectrum of commercial dealings in the United States is under the regulation of the laws within the Uniform Commercial Code.

Writing Requirement

A legal principle that certain kinds of contracts must be in writing to be enforceable.

Statute of Frauds

A legal principle that requires certain types of contracts to be written and signed by the parties involved to be enforceable.