The Supply of a Product Does Not Depend On

question 49

Multiple Choice

The supply of a product does not depend on:

• A) raw material costs.
• B) wage rates.
• C) consumer incomes.
• D) technology.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Service Income

Income earned from the provision of services to clients or customers.

Unearned Service Revenue

Income received by a company for services yet to be provided, recorded as a liability until the services are performed.