Which of the Following Is True of Renewable Resources

question 112

Multiple Choice

Which of the following is true of renewable resources?

• A)Additional units of these resources can be purchased in the market.
• B)Additional units of these resources are provided by the government.
• C)Worn-out units cannot be repaired for further use.
• D)They can be drawn on indefinitely if used conservatively.
• E)They are available in finite amounts.

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Definitions:

Labour Efficiency

The measure of the amount of work achieved by a workforce compared to the effort put in.

Material Quantity

The amount of raw materials or supplies used in the production of goods, often monitored to control costs and ensure efficient resource use.

Labour Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, based on the hours worked.

Favourable Variance

A financial term indicating that actual costs were lower than budgeted costs, or actual revenues were higher than expected.