A Balance Sheet Includes ____,____,And ____

question 136

Multiple Choice

A balance sheet includes ____,____,and ____.

• A)income; expenses; net worth
• B)assets; expenses; liabilities
• C)income; liabilities; net worth
• D)assets; liabilities; net worth

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Definitions:

Labor

The employment of human physical and psychological skills in the production process of goods and services.

Capital

Financial assets or the financial value of assets, such as cash and securities, or fixed assets like buildings and machinery, that are used in producing goods or services.

Short-Run

A period of time during which at least one of a firm's inputs is fixed.

Machines

Devices or systems of devices that perform tasks or assist in the performance of tasks, often using mechanical, electrical, or computer-driven components.