The Four Factors of Production Are

question 26

Multiple Choice

The four factors of production are

• A)productive factors, neutral factors, entrepreneurial factors, and nonproductive factors.
• B)men, women, animals, and children.
• C)labour, capital, entrepreneurship, and land.
• D)machines, factories, buildings, and farms.
• E)labour, money, profits, and land.

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Definitions:

Financial Statement

An official document detailing the monetary transactions and status of an organization, individual, or different entity.

Income Statement

A financial report that shows the company's revenues and expenses over a specific period, resulting in a net income or loss.

Trial-balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns that are equal, used to ensure the accuracy of financial transactions.

Insurance Expense

The cost allocated to a period for holding insurance policies, regarded as a non-operational expense in financial statements.