All of the Following Are Private Costs of Operating an Automobile

question 196

Multiple Choice

All of the following are private costs of operating an automobile EXCEPT

• A) gasoline for the car.
• B) depreciation of the vehicle.
• C) car insurance.
• D) harm to the environment from emissions.

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Definitions:

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profit or loss.

Standard Direct Materials

The predetermined cost and quantity of direct materials that are expected to be used in the production of a product.

Direct Materials Price

The cost per unit of raw materials used in the production of goods.

Standard Costs

predetermined costs assigned to goods and services, used as a benchmark for measuring performance.