Industrial Machinery Is an Example of

question 68

Multiple Choice

Industrial machinery is an example of

• A)a factor of production that in the past was an output from the production process.
• B)technological knowledge.
• C)a production function.
• D)an item which always has the property called constant returns to scale.

---

Definitions:

Time Sheets

Time sheets are records used to track the amount of time an employee has worked, often used for payroll or billing purposes.

Internal Control

A process designed to ensure the reliability of financial reporting, compliance with laws and regulations, and the effectiveness and efficiency of operations.

Overtime Expense

Overtime expense refers to the additional costs incurred by an employer for paying employees at higher rates for working beyond their normal hours.

Product Warranty

A guarantee from the manufacturer or seller that a product will meet certain quality and reliability standards or that defective products will be repaired or replaced.