The Asset Created by a Business When It Makes a Sale

question 120

Multiple Choice

The asset created by a business when it makes a sale on account is termed

• A) accounts payable
• B) prepaid expense
• C) unearned revenue
• D) accounts receivable

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Definitions:

Vertical Axis

In a graph, the vertical line, usually representing the dependent variable or the measure of outcome.

Corn Chips

A snack food made from cornmeal fried or baked in oil, often seasoned.

French Fries

Sliced potatoes that are deep-fried and typically served as a side dish or snack.

Utility Function

A mathematical representation that associates levels of utility or satisfaction a consumer derives from consumption of goods and services.