_____ Is Found by Dividing Total Output by the Number

question 31

Multiple Choice

_____ is found by dividing total output by the number of workers employed to produce that output.

• A) Marginal cost
• B) Average cost
• C) Marginal product
• D) Average product

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Definitions:

Useful Output

The amount of finished product or completed service that is produced and considered of value to the consumer or market.

Special Journals

Customized accounting journals used for recording specific types of transactions in detail, such as sales or purchases.

Cash Receipts Journal

An accounting journal specifically for all cash inflows or receipts, including sales, loan proceeds, and interest earned.

Current Asset

Assets that are expected to be converted into cash, sold, or consumed within one year or within the operating cycle of the business, whichever is longer.