For Economists, the Word "Utility" Means

question 368

Multiple Choice

For economists, the word "utility" means

• A) versatility and flexibility.
• B) rationality.
• C) pleasure or satisfaction.
• D) purposefulness.

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Definitions:

Accounts Receivable

Money owed to a company by its customers from goods or services sold on credit.

Budgeted Balance Sheet

A financial statement that projects the financial position of a company at a future date, based on budgeted transactions.

Schedule of Cash Receipts

A detailed plan or report of the expected times and amounts of incoming cash to the business.

Gross Profit Rate

The ratio of gross profit to net sales, showing the percentage of revenue that exceeds the cost of goods sold.