Which of the Following Correctly Lists the Categories of Factors

question 88

Multiple Choice

Which of the following correctly lists the categories of factors of production?

• A) machines, buildings, land, and money
• B) hardware, software, land, and money
• C) capital, money, and labor
• D) owners, workers, and consumers
• E) land, labor, capital, and entrepreneurship

Classify accounts by their normal balances and activity (debit or credit) during recording business transactions.

Understand and correctly apply the concept of journalizing financial transactions.

Analyze and correct errors in journal entries.

Understand the effect of financial transactions on the accounting equation.

---

Definitions:

Time Tickets

Documents used to record the amount of time an employee spends on various tasks, typically for the purpose of allocating labor costs to specific jobs or projects.

Employees' Earnings Records

Documentation that details the wages or salaries earned by employees, including deductions and net pay, over a period.

Job Order Cost Sheets

Documents that track the direct materials, direct labor, and manufacturing overhead costs attributable to individual jobs or batches within a production process.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor expenses.