Which of the Following Describes an Increase in Technological Knowledge

question 57

Multiple Choice

Which of the following describes an increase in technological knowledge? A farmer:

• A) sends his child to agricultural college and the child returns to work on the farm.
• B) hires another day labourer.
• C) buys another tractor.
• D) discovers that it is better to plant in the spring rather than in the autumn.

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Definitions:

Beginning Inventories

Beginning Inventories are the inventory levels of a company at the start of an accounting period, used as a baseline for calculating inventory changes.

Ending Inventories

The total value of all inventory a company has at the end of its accounting period, including products ready for sale and materials for production.

Income Statement Columns

Sections on an income statement, typically including revenues, expenses, and net income, to display financial performance.

Net Loss

The amount by which expenses exceed revenues, indicating a financial loss for a period.