If Marginal Benefit Is Greater Than Marginal Cost, Output Is

question 111

True/False

If marginal benefit is greater than marginal cost, output is inefficiently high.

---

Definitions:

Salaries Expense

The cost incurred by a company to pay for employee services performed during a period.

Time Card

A record of the amount of an employee's time spent on different jobs, typically used for payroll purposes.

Internal Control

A system implemented by a company to ensure the integrity of financial and accounting information, promote accountability and prevent fraud.

Payrolls

The total amount of money a company pays to its employees for a set period of time, including wages, salaries, bonuses, and deductions.