A Public Good Is

question 162

Multiple Choice

A public good is

• A)any good provided by government.
• B)a good that can be most cheaply provided by government, though it may in fact be provided by private enterprise.
• C)a good whose benefits cannot readily be restricted to a small group of people.
• D)a good whose benefits cannot be enjoyed by an individual alone.

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Definitions:

Revenue Recognition Principle

An accounting principle that outlines the specific conditions under which revenue is recognized.

Unearned Rent Revenue

Income received by a company for rent that has not yet been earned because the service period has not occurred.

Unearned Service Revenue

Income received by a company for services yet to be performed; considered a liability until the service is delivered.