The Textbook Classifies Technology as _______ and Entrepreneurs as _______

question 114

Multiple Choice

The textbook classifies technology as _______ and entrepreneurs as _______ .

• A) knowledge; persons who seek profit by finding new ways to organize factors of production
• B) capital; labor
• C) labor skills; capital
• D) a factor of production; a factor of production

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Definitions:

Accounts Receivable

Outstanding payments from customers to a company for goods or services already delivered but not yet compensated for.

Bank Reconciliation

The process of comparing and matching figures from the accounting records against those presented on a bank statement to ensure they are in agreement and accurate.

Service Fees

Charges for services provided, often seen in banking, professional services, and maintenance sectors.

Outstanding Checks

Checks that have been written and recorded in the issuing company's books but not yet cleared or deducted from the bank's cash balance.