Which of the Following Is True

question 75

Multiple Choice

Which of the following is true?

• A) social benefits = internal benefits - external benefits
• B) social benefits = internal benefits + external benefits
• C) internal benefits = social benefits + external benefits
• D) external benefits = social benefits + internal benefits
• E) internal benefits - social benefits = external benefits

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Definitions:

Payment

The transfer of money, goods, or services in exchange for a product, service, or to fulfill a legal obligation.

Depreciation

A method of accounting that distributes the expense of a physical asset across its lifespan.

Fixed Asset

Long-term tangible property that a firm owns and uses in producing its income and is not expected to be consumed or converted into cash in short-term.

Market Value

Market value is the current price at which an asset or service can be bought or sold in the open market.