QUESTION 1 1. As presented in the textbook, the purpose of business is to: A. Serve the owners of the business. B. Serve society C. Create full employment D. Make people rich QUESTION 9 1 Comparing a number to the value of the same number in other companies as of the same time called a Benchmark comparison Cross-sectional comparison Competitive benchmarking comparison Time-series comparison QUESTION 16 1. The additional cost of purchasing a new machine is an example of An incremental cost A fixed cost. An opportunity cost A sunk cost QUESTION 18 1. If you put $12,500 in a bank account that pays 3 percent annual interest, how much would you have after seven years? $15,313.04 $13,659.09 $20.072.27 $15,373.42 1. QUESTION 21 20th Century insights that revealed difficulties with profit maximization as the goal for a firm included all of the following EXCEPT Profits do not equal returns to investors. Profits do not consider risk Profits do not capture the financial exchanges between the firm and others Profits do not all come at the same time