Use the Following to Answer Question 169

question 94

Multiple Choice

Use the following to answer question 169:
-(Table: Utility from Pizza and Beer) Use Table: Utility from Pizza and Beer.At All-Sports Bar,a bottle of beer costs $4,and a slice of pizza costs $2.Denard has $10 to spend on beer and pizza.To maximize his utility,Denard will consume _____ slice(s) of pizza and _____ bottle(s) of beer.

• A) five;no
• B) three;one
• C) one;two
• D) four;three

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Definitions:

Closing Entries

The journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, preparing the books for the next period.

Retained Earnings

Profits that a company keeps to use within the business after dividends have been paid out to shareholders.

Fiscal Year

A one-year period used for financial reporting and budgeting, which may or may not align with the calendar year.

Goods Sold

Goods sold refers to the total quantity of goods that a company has sold to its customers during a specific accounting period.