Economic Growth Allows a Society to Consume

question 161

Multiple Choice

Economic growth allows a society to consume

• A) more goods per person.
• B) more than it should.
• C) more than is sustainable.
• D) exactly what it needs.

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Definitions:

Eighteen Months

A period of time equal to one and a half years.

Note Receivable

A written promise that someone will pay a business a specific sum of money on a specified date or on demand.

Days' Sales in Receivables

A financial ratio that measures the average number of days that receivables remain outstanding before being collected.

Allowance for Doubtful Accounts

Allowance for doubtful accounts is a financial accounting provision made for receivables that may not be collectible, estimating the portion of outstanding receivables likely to be uncollectable.