Identify the Event Below Where Information Associated with the Event

question 54

Multiple Choice

Identify the event below where information associated with the event most likely will need to be retained for years.

• A) the actual cost associated with repairing a customer's car
• B) the employee who answered a customer service phone call
• C) the amount of cash received from issuing stock
• D) a list of services offered by the company as of the start of a fiscal year

---

Definitions:

Consumer Surplus

The imbalance between the total budget consumers are willing to allocate for a product or service and the actual spending.

Consumer Surplus

The separation between the ideal amount consumers are willing to spend on a service or product and their real expenditures.

Producer Surplus

The discrepancy between what producers are ready to take for a product or service and the real amount they get.

Tax

A required contribution or another kind of monetary levy imposed by a government body on a taxpayer to underpin government expenditure and different public spending initiatives.