Which of the Following Is a Final Good or Service

question 63

Multiple Choice

Which of the following is a final good or service?

• A) Coffee grounds you use to make your coffee every morning
• B) Coffee grounds used by a coffee shop to make your coffee every morning
• C) Coffee grounds used by Edy's to make coffee ice cream
• D) None of these is a final good or service.

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Definitions:

Statute of Limitations

A law that sets the maximum time after an event within which legal proceedings may be initiated.

Previous Debt

An obligation or a financial liability that was incurred before the current period or transaction being considered.

Illusory Promise

A statement that appears to assure a commitment but lacks the essential elements to bind the promisor legally.

Option to Cancel

A clause in a contract that allows one or more parties to terminate the agreement under certain conditions.