Some Firms Use Large Amounts of Capital and Small Amounts

question 45

Multiple Choice

Some firms use large amounts of capital and small amounts of labour, while others use small amounts of capital and large amounts of labour to

• A)use surpluses of labour and capital and eliminate unemployment of these resources.
• B)use the best available technology.
• C)use the resources that are most readily available.
• D)maximize profit.
• E)maximize production.

Identify and classify inventory on the balance sheet.

Understand the importance and calculation of the asset turnover ratio.

Differentiate between the periodic and perpetual inventory systems in terms of operational functionality.

Comprehend the process of recording the sale and return transactions under the perpetual inventory system.

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