Wages Are Paid to ________ and Interest Is Paid to ________

question 159

Multiple Choice

Wages are paid to ________ and interest is paid to ________.

• A) entrepreneurs; capital
• B) labor; capital
• C) labor; land
• D) entrepreneurs; land
• E) labor; entrepreneurs

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Definitions:

Quality Of Materials

The measure of suitability of the materials used in production, affecting the durability and functionality of the final product.

Labour Rate Variance

The difference between the actual cost of direct labor and the estimated cost based on the standard labor rate.

Standard Labour Hours

The calculated amount of labor hours predetermined to be necessary for completing a specific task or producing a certain quantity of goods.

Actual Hours Worked

The real number of hours an employee or workforce spends performing tasks during a specific period, as opposed to scheduled or standard hours.