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Arithmetic definition part 2

Authored by J Lang

Mathematics

Professional Development

Arithmetic definition part 2
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is defined as the capacity of a commodity to satisfy human want.

A. Satisfaction

B. Luxury

C. Necessity

D. Utility

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The addition cost of producing one more unit is

A. Prime cost

B. Marginal cost

C. Differential cost

D. Sunk cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An association of two or more individuals for the purpose of engaging business for profit.

A. Single proprietorship

B. Party

C. Corporation

D. Partnership

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

These are products or services that are desired by human and will be purchased if money is available after the required necessities have been obtained.

A. Commodities

B. Necessities

C. Luxuries

D. Supplies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The worth of the property which is equal to the original cost less the amount which has been charged to depreciation.

A. Scrap value

B. Salvage value

C. Book value

D. Market value

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The simplest form of business organization where in the business is own entirely by one person.

A. Partnership

B. Proprietorship

C. Corporation

D. Joint venture

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This consists of a cash and account receivable during the next period or any other material which will be sold.

A. Fixed assets

B. Deferred charges

C. Current asset

D. Liability

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