The Sum of Wages, Salaries and Supplementary Labour Income, and Other

question 61

Multiple Choice

The sum of wages, salaries and supplementary labour income, and other factor incomes is

• A)gross domestic product.
• B)gross domestic income.
• C)net domestic income at factor cost.
• D)net domestic product.
• E)total output of the economy.

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Definitions:

Direct Expenses

Expenses directly linked to the manufacturing of particular products or services.

Sales

Sales involve the exchange of a product or service for money or its equivalent, constituting a fundamental activity of commercial enterprises to generate revenue.

Operating Departments

These are divisions within a business that are directly involved in carrying out the operations central to the business's purpose.

Indirect Expenses

Costs that are not directly attributable to the production of goods or services, such as administrative and selling expenses.