Without Market Coordination

question 97

Multiple Choice

Without market coordination,

• A)violent force is necessary to motivate individuals.
• B)a society disintegrates.
• C)the problem of scarcity can be controlled.
• D)central direction is necessary.
• E)an orderly society can at last be a possibility.

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Definitions:

Notes Receivable

Claims against debtors documented by promissory notes, which promise the future inflow of cash.

Aging Schedule

A table or report that categorizes a company's accounts receivable according to the length of time an invoice has been outstanding.

Net Receivables

The total amount of money owed to a company by its customers after accounting for allowances for doubtful accounts.

Credit Sales

Sales made on credit where the payment is received after the service is delivered or the product is sold, thus creating receivables.