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bulgar [2K]
3 years ago
11

Matt Newell, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views

of the Rocky Mountains. He obtains a loan and purchases the necessary land, facilities, advertising, and five helicopters for his business. What important factor of production has he overlooked in creating his business? A. equipment B. capital C. labor D. entrepreneurship E. natural resources
Business
1 answer:
Keith_Richards [23]3 years ago
4 0

Answer:

Labor

Explanation:

Factor of production: There are several resources that are required in the process of production or running any business to meet the required goal of the business.

There are four factor of production:

  • Land
  • Labor
  • Capital.
  • Entrepreneurship.

In the given case, Matt Newell is an Entrepreneur as he has started a new helicopter tour company, for which he acquired land and capital from the loan, however, he has not to manage labor for his business. Labor is essential to run any business.

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Anna35 [415]

Liabilities are the <u>rights of creditors.</u>

<h3>What is a liability?</h3>

A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.

Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.

Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.

In general, a liability is an obligation that exists between two parties but hasn't been fulfilled or paid for. A financial liability is an obligation in the world of accounting, but it is more specifically characterized by previous business transactions, events, sales, exchanges of goods or services, or anything else that will generate income in the future. Non-current liabilities are typically viewed as long-term obligations because they are anticipated to last more than a year (12 months or greater).

Thus, Liabilities are the<u> rights of creditors.</u>

For more information on <u>creditors</u>, refer to the given link:

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5 0
1 year ago
Your first job is to settle the dispute between the owners. To settle the dispute, you need to ensure that both owners understan
Aneli [31]

Answer:

Inelastic: Demand for business goods tends to be me more inelastic than demand for consumer goods.

Explanation:

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4 0
2 years ago
Which of the following is an example of​ investment? A. a person depositing $ 100 a week to her savings account B. a person's an
lara31 [8.8K]

Answer:

C. the purchase of new buses by Greyhound

Explanation:

The investment is the amount that should be invested in order to generate the income

So as per the given situation,the option C is correct as if we puchase the new buses so there is a big investment but after investing into it it generated the income on daily basis

So this should be the example of the investment

4 0
3 years ago
If the actual labor rate exceeds the standard labor rate and the actual labor hours exceed the number of hours allowed, the labo
vladimir2022 [97]

Answer:

Option D

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As both, the actual rate and actual hours exceed the standards rate and standard hours, both rate and efficiency variance will be unfavorable.

And considering that if the actual labor rate exceeds the standard labor rate and if the actual labor-hours exceed the number of hours allowed, the total labor flexible budget variance will be unfavorable. As the variance is the difference between the Standard Cost and Actual Cost. So if both Standard rate & Standard hrs. are more than actual rate & actual hrs., Actual cost will be more than standard cost i.e. the variance will be unfavorable

Option d is correct

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3 years ago
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