Which of the Following Is Characteristic of Capitalism

question 64

Multiple Choice

Which of the following is characteristic of capitalism?

• A) economic motivation through profit
• B) governmental control of the economy
• C) government and big business cooperation
• D) the development of unions

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Definitions:

Salaries Expense

The total cost incurred by a company for paying its employees, typically recorded in the expense accounts in the general ledger.

Equipment

Equipment refers to the tools, machinery, and other durable assets used by a company in its operations.

Supplies

Supplies are consumable items used in the daily operations of a business, such as office or cleaning materials, that are not resold to customers.

Petty Cash

A small amount of cash on hand used for minor, incidental expenses of a business.