Meera Operates Ducks Unlimited, Which Raises Mallard Ducks to Sell

question 104

Multiple Choice

Meera operates Ducks Unlimited, which raises mallard ducks to sell to dog food companies. Meera leases the land for $5,000 per month and hires workers at $1,000 per worker per month. With 4 workers, the average total cost is $____.

• A) 5,500
• B) 5,000
• C) 4,500
• D) 1,000

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Definitions:

Income Statement

A financial statement that reports a company's revenues, expenses, and profits over a specific period.

Consignment

A business arrangement in which goods are left in the possession of another party to sell, with payment to the consignor occurring after sale.

Consignor

The Consignor is the person or entity who owns goods that are sent to another party, known as the consignee, to sell on their behalf.

Consignee

The individual or entity to whom goods are shipped to be sold on behalf of the consignor, who retains ownership until the goods are sold.