In the Specific Factors Model,labor Is Defined as A(an)

question 38

Multiple Choice

In the specific factors model,labor is defined as a(an)

• A) mobile factor.
• B) specific factor.
• C) fixed factor.
• D) variable factor.
• E) intensive factor.

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Definitions:

Accounts Payable

Liabilities representing amounts owed by a company to suppliers for goods and services purchased on credit.

Journal Entry

A record in the accounting journals that documents a financial transaction.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, funding Social Security and Medicare programs, withheld from employees’ pay and matched by employers.

Medicare Taxes

Taxes collected from employees and employers to fund the Medicare program, which provides healthcare benefits to retirees.