Payments to a Factor of Production in Excess of the Minimum

question 24

Multiple Choice

Payments to a factor of production in excess of the minimum payments necessary to call it into existence constitute

• A) consumers' surplus
• B) rent
• C) a golden parachute
• D) an efficiency wage

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Definitions:

Financing Activities

Transactions and events that affect the equity and long-term liabilities of a company, often reflected in the financing section of the cash flow statement.

Operating Activities

Activities that relate to a company's primary operations, including revenue and expense transactions that affect the net income.

U.S. GAAP

United States Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.

Investing Activities

Transactions involving the acquisition or disposal of non-current assets, such as property, plant, and equipment, included in a company’s cash flow statement.