A Permanent, Classified Record of All Accounts Used in a Firm's

question 85

Short Answer

A permanent, classified record of all accounts used in a firm's operation is called a(n)________.

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Definitions:

Nonexcludability

The inability to keep nonpayers (free riders) from obtaining benefits from a certain good; a characteristic of a public good.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning their use by one person does not reduce availability to others.

Consumption Goods

Products and services that are consumed by the ultimate consumer and do not serve as input for the production of other goods or services.

Public Goods

Goods that are available for everyone to consume, regardless of whether they pay for them or not, and whose consumption by one individual does not diminish the quantity available to others.