Figure 10-12 -Refer to Figure 10-12. Which of the Following Is an Following

question 222

Multiple Choice

Figure 10-12
-Refer to Figure 10-12. Which of the following is an appropriate label for Line 2?

• A)social cost minus social value
• B)social value minus private cost
• C)demand
• D)private value plus external benefit

---

Definitions:

Accumulated Depreciation

The cumulative sum of depreciation costs allocated to a fixed asset from the time of its purchase.

Supplies

Items used in the operations of a business that are consumed or used up in the short term.

Sales Revenues

Sales revenues represent the total amount of money earned by a company from its sales of goods or services before any expenses are deducted.

Plant Equipment

Assets that are durable and used in operations to produce goods and services, typically including machinery, vehicles, and tools.