Tim Mows the Yard for His Neighbors

question 114

Multiple Choice

Tim mows the yard for his neighbors.He spends $1 on gas and charges them $20 for each lawn he mows.What's the total contribution to GDP each time Tim mows a yard?

• A)$1
• B)$19
• C)$20
• D)$21

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Definitions:

Motivate Employees

The process of encouraging employees to perform at their best through incentives, positive workplace culture, and recognition.

Standard Cost System

A cost accounting system that assigns expected costs to each product or service, facilitating comparison with actual costs to assess performance.

Normal Cost System

An accounting system that applies indirect costs to products based on a standard cost rather than actual cost measures.

Cost Flow

The movement and allocation of costs through various stages of production or services, tracking how costs are assigned to products or services.