All categories

2 years ago

2. Which statement about the factors of production is correct?

Business

1 answer:

Charra [1.4K]2 years ago

8 0

Answer:

A) A river from which a company draws water is called land.

Explanation:

There are mainly 4 Factors of Production and these are:

1. Labor

2. Land

3. Capital

4. Entrepreneurship

Labor doesn't refer to the owner of the company. It refers to the work that is being done in order to finish a particular project or work. This makes choice D incorrect.
An enterprise refers to the entire company or business. It doesn't limit itself to the supervisors involved. This makes choice C incorrect.
Capital in the form of money is not a factor of production. Raising finance for a company means raising money. An example of capital as a factor of production is purchasing an equipment for commercial/business purposes. This makes choice B incorrect.
When it comes to "land" as a factor of production, it refers to the natural resources, which means it includes not only the forests, mountains and the like but also the oceans, rivers, lakes, etc. as long as it is being used in the production process. This makes choice A correct.

You might be interested in

During fiscal year-end 2016, Kohl’s Corporation reports the following (in $ millions): net income of $556, retained earnings at

nikitadnepr [17]

Answer:

c. $363 million

Explanation:

We can compute this easily by making a retained earning extract from the balance sheet at the closing date,

Opening Retained earnings $12,329

Add retained earnings for the year $556

Less: Dividends paid $363

Closing Retained earnings $12,522

Reverse calculating the information gives us c. $363 million

Hope that helps.

7 0

2 years ago

Using the variable cost method, determine the selling price (rounded to the nearest dollar) for 30,000 units using the following

Brilliant_brown [7]

Answer:

c. $8

Explanation:

Calculation to determine the selling price

First step is to calculate the Markup percent

Markup percent= (90,000 + 150,000) / (30,000 x 15)

Markup percent = .533

Now let calculate the selling price

Selling price=533 x $15 per unit

Selling price= $8

Therefore the Selling price will be $8

7 0

3 years ago

Ginocera Inc. is a designer, manufacturer, and distributor of custom gourment kitchen knives. A new kitchen knife series called

skad [1K]

To start of you need to divide them all by an equal number then subtract find the common variable multiple then and then ya

7 0

2 years ago

The transactions of Spade Company appear below.

s2008m [1.1K]

Answer:

Entries are given

Explanation:

We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.

DEBIT CREDIT

A. Kacy Spade, owner, invested cash in the company

Common stock 14250

Cash 14250

B. The company purchased office supplies

Office supplies 413

Cash 413

C.The company purchased office equipment on credit

Office equipment 7880

Payables 7880

D.The company received $1,681 in cash

Cash 1681

Fees earned 1681

E. The company paid $7,880 cash to settle the payable

Payables 7880

Cash 7880

F. The company billed a customer $3,021 as fees

Receivable 3021

fees earned 3021

G. The company paid $520 cash for the monthly rent.

Rental expense 520

Cash 520

H. The company collected $1,269 cash as partial payment

Cash 1269

Receivables 1269

I. The company paid a $1,000 cash dividend to the owner

Retained earnings 1000

Cash 1000

5 0

2 years ago

Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits an

ikadub [295]

Answer:

$ 226.04

Explanation:

Given:

Paying fund, FV = $ 30000

Interest rate, i = 2%

Time, t = 10 years

Now,

$\textup{PMT}=\textup{FV}[\frac{i}{(1+i)^n-1}]$

since, the payment is made monthly

thus,

n = 10 × 12 = 120 months

i = 2% / 12 = 0.02 / 12

on substituting the values in the above equation, we get

$PMT={30000}[\frac{\frac{0.02}{12}}{(1+{\frac{0.02}{12}})^{120}-1}]$

PMT = $ 226.04

3 0

2 years ago