Which of the Following Are the Three Major Categories of Resources

question 88

Multiple Choice

Which of the following are the three major categories of resources?

• A) physical capital, technology, and institutions
• B) land, labor, and technology
• C) institutions, human capital, and land
• D) natural resources, physical capital, and human capital
• E) labor, physical capital, and technology

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Definitions:

Internal Controls

Procedures and measures taken by a business to safeguard its assets, ensure accuracy and reliability in accounting records, and enhance operational efficiency.

Payroll

The total amount paid to employees for services they provided during a certain period.

Double Time

A pay rate that is twice the employee's regular hourly rate, often applied for working on holidays or overtime.

Cumulative Earnings

The total amount of net income earned by an individual or entity over a period, often used in the context of calculating pensions or other benefits.