When Considering the Factor Distribution of Income,into Whose Income Would

question 133

Multiple Choice

When considering the factor distribution of income,into whose income would corporate profits be included?

• A)Owners of physical capital
• B)Owners of human capital
• C)Proprietors
• D)None of these statements is true.

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Definitions:

Average Price

The mean price of a good or service calculated by dividing the sum of the prices of all the items by the number of items.

Overhead Volume Variance

Overhead volume variance is the difference between the budgeted overhead at standard production volumes and the actual overhead incurred due to variance in production volume.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels.

Direct Materials Quantity Variance

The difference between the actual quantity of direct materials used in production and the standard quantity expected to be used, multiplied by the standard cost per unit.