The Productive Knowledge and Skills That Workers Acquire Through Education,training,and

question 95

Multiple Choice

The productive knowledge and skills that workers acquire through education,training,and experience is called:

• A) physical capital.
• B) human capital.
• C) technological knowledge.
• D) real capital.

---

Definitions:

Average Collection Period

The average number of days it takes for a business to receive payments owed by its customers for goods or services sold on credit.

Allowance for Doubtful Accounts

An estimation of accounts receivable that a company does not expect to collect, appearing as a contra-asset account on the balance sheet.

Net Credit Sales

The net income generated from credit sales after subtracting any returns or allowances.

Aging Analysis

A method used to estimate the collectability of accounts receivable by categorizing receivables by their age (time outstanding).