Which of the Following Items Would Not Be Included on a Balance

question 73

Multiple Choice

Which of the following items would not be included on a balance sheet?

• A)Balances owed on your utility bills
• B)Balances owed on your credit card(s)
• C)Mortgage payment paid
• D)Automobile loan balance
• E)Student loan balance

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Definitions:

Per Capita Income

The average income earned per person in a given area or country.

Revealed Preferences

The concept that consumers' choices reveal their preferences and that these choices can be used to infer the utility they derive from different options.

Francs

A currency formerly used in France and some other countries, and still used in some parts of Switzerland and the Pacific.

Consumption

(rephrased) involves the utilization of goods and services by individuals or communities, primarily for personal satisfaction and basic needs.