Two Components of Labor Are

question 103

Multiple Choice

Two components of labor are:

• A) residential location and education.
• B) natural ability and human capital.
• C) money and financial wealth.
• D) ingenuity and job-specific machinery.

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Definitions:

Equity Method

An accounting technique used for recording investments in associate companies where the investment is represented by the equity value.

Cost Method

An accounting approach whereby investments are recorded at their original purchase cost, without adjusting for changes in fair value, except for impairments.

Investment

The allocation of resources, such as capital or time, in the expectation of generating an income or profit.

CICA Handbook

The Canadian Institute of Chartered Accountants Handbook, which contains accounting and assurance standards in Canada.