(Table) Based on the Table, What Is the Average Total

question 64

Multiple Choice

(Table) Based on the table, what is the average total product when John's Salsa Company hires three people?
$\begin{array}{|c|c|}\hline \text { Labor } & \begin{array}{c}\text { Total } \\\text { Product }\end{array} \\\hline 1 & 9 \\\hline 2 & 20 \\\hline 3 & 33 \\\hline 4 & 40 \\\hline\end{array}$

• A) 10
• B) 33
• C) 11
• D) 13

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Definitions:

Liability Account

An account on the balance sheet representing amounts owed to creditors or other parties, typically categorized as current or long-term.

Adjusting Entry

A journal entry made in accounting records to correct or allocate revenues and expenses to the appropriate period.

Wages Expense

This is the total amount of wages a company pays to its employees, which is considered an expense on the income statement.

Accrued Wages

Refers to wages earned by employees but not yet paid by the employer.