Which of the Following Is an Example of an Intermediate

question 153

Multiple Choice

Which of the following is an example of an intermediate good?

• A) the dough you buy to fix yourself a pizza for dinner
• B) the chocolate you buy to make yourself some cookies
• C) the pizza sauce you purchase to make pizzas to sell for a fund-raiser for an organization you belong to
• D) lumber you buy to build a house for your dog

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Definitions:

Internal Revenue Service

The U.S. federal agency responsible for the administration of tax laws and the collection of taxes, commonly referred to as the IRS.

Interstate Commerce

Commercial transactions or transportation of goods that cross state boundaries, regulated by federal authority in many countries.

Technological Controls

Systems and procedures implemented to secure technology infrastructure and manage information assets effectively.

Recordkeeping

The process of maintaining accurate and systematic records of financial transactions and other business events.