The Production Technique That Is Most Efficient Is the One

question 164

Multiple Choice

The production technique that is most efficient is the one that produces a given amount of output

• A)using the least amount of labor resources.
• B)at the highest price per unit.
• C)at the lowest cost per unit.
• D)that yields the highest revenues.

---

Definitions:

Beginning Capital

The amount of capital at the start of an accounting period, forming the basis for measuring capital growth or reduction over that period.

Owner's Withdrawals

Amounts of money or other assets that the owner takes out of the company for personal use.

Owner's Equity

The total value of assets a business owner has rights to after all liabilities are paid off; equity for sole proprietorships.

Liabilities

Financial obligations or debts that a company owes to others, including loans, accounts payable, and mortgages.