Which of the Following Is the Party Receiving the Money

question 86

Multiple Choice

Which of the following is the party receiving the money from the draft?

• A) The drawer.
• B) The drawee.
• C) The payee.
• D) The draftor.
• E) The draftee.

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Definitions:

Marginal Resource Cost

The increase in total cost incurred by employing one more unit of a resource, such as labor or capital.

Total Cost

The sum of all costs incurred by a business in the production of goods or services, including fixed and variable costs.

Input

Resources (such as labor, materials, and capital) used in the production process to create goods or services.

Marginal Resource Cost

The additional cost incurred by a firm for using one more unit of input, like labor or raw materials.