Which of the Following Is Not a Factor of Production

question 115

Multiple Choice

Which of the following is not a factor of production?

• A)the water used to cool a nuclear power plant
• B)the effort of farmers raising cattle
• C)the land used by a farmer to grow wheat
• D)the wages paid to workers
• E)the management skill of a small business owner

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Definitions:

Segments

Differentiable parts of a company that can be identified by specific financial information and operations, often used for reporting purposes.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used in compiling financial statements.

LIFO Method

"Last In, First Out," an inventory accounting method where the most recently acquired items are assumed to be sold first.

Journal Entries

The individual records of financial transactions in a company's accounting system.