Net Domestic Income at the Factor Cost Refers to The

question 165

Multiple Choice

Net Domestic Income at the factor cost refers to the:

• A) total income earned by Canadian-supplied factors of production as wages,interest,rent and profit.
• B) total income earned by foreign-supplied factors of production as wages,interest,rent and profit total income earned by foreign-supplied and Canadian-supplied factors of
• C) production as wages,interest,rent and profit.
• D) total income earned by Canadian households.

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Definitions:

Cost Of Goods Sold

The costs directly connected with generating the goods a firm sells to its customers.

Operating Cycle

The duration of time it takes for a company to purchase inventory, sell products, and collect cash from customers.

Financial Data

Information relating to the financial status or performance of a company, including income, expenses, assets and liabilities.

Sales On Account

Transactions where goods or services are sold and payment is deferred, creating accounts receivable for the seller.