National Defense Is a Classic Example of a Public Good

question 21

Multiple Choice

National defense is a classic example of a public good because

• A)there is no market for private security services.
• B)it is difficult to exclude people from receiving the benefits from national defense once it is provided.
• C)everyone agrees that some level of national defense is important, but only the government knows the optimal amount.
• D)there are no private firms willing to supply defense goods such as tanks and weapons.

Explain the methodology of recording purchases and the implications of cash discounts.

Interpret the liquidity of a company's accounts receivable and its importance.

Describe the electronic means of cash transfer and its relevance in financial operations.

Understand the utility of specific funds and accounts for handling cash operations and discrepancies.

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Definitions:

Least Professionalized

Describes organizations or sectors that have the lowest levels of formal training, standards, or qualifications among their personnel.

Charitable Nonprofit

Organizations that operate to provide relief to the poor, advance education, support health, or engage in other charitable activities serving the public interest or common good.

Private Foundations

Nonprofit entities that typically donate funds and support to other charitable organizations, funded by a single source, like a family or corporation.

Single Donor

Refers to contributions received from one individual, organization, or entity to support a particular cause or organization.