In the Wealth of Nations, Adam Smith Described the Breakdown

question 85

Multiple Choice

In the Wealth of Nations, Adam Smith described the breakdown of jobs into narrow and repetitive tasks and called this _________.

• A) assembly lines
• B) work denomination
• C) division of labor
• D) greatest common factor of work

---

Definitions:

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.

Common Shares

Equity ownership units in a corporation, entitling holders to voting rights and dividends.

Share Capital

Share capital refers to the funds raised by a company through the issuance of shares, which represent ownership interests in the company.

IFRS

International Financial Reporting Standards, a set of accounting guidelines that provide the basis for financial reporting across many countries globally.