On the Completed Work Sheet,which Set of Columns Usually Should

question 77

Multiple Choice

On the completed work sheet,which set of columns usually should be out of balance after the initial footing?

• A)Both Income Statement and Balance Sheet columns
• B)Balance Sheet columns only
• C)Income Statement columns only
• D)Adjusted Trial Balance columns only

---

Definitions:

Marginal Product

The extra production yielded from the use of one additional unit of a specific input while keeping all other inputs unchanged.

Labor

Refers to human effort, both physical and mental, used in the production of goods and services.

Output

Output is the quantity of goods or services produced by a company, industry, or economy within a specified period.

Average Product

The output per unit of input, calculated by dividing total output by the quantity of inputs.