A Nonrenewable Resource

question 19

Multiple Choice

A nonrenewable resource:

• A) is a production input that comes from the earth.
• B) can be replenished naturally over time.
• C) is used to regenerate an old piece of capital.
• D) All of these statements are true.

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Definitions:

Journal Entry

A record in the books of account that represents a financial transaction.

Payroll Taxes Expense

Taxes that employers are required to pay based on the wages and salaries of their employees, such as Social Security and Medicare taxes.

FICA Tax

A U.S. federal payroll tax used to fund Social Security and Medicare, distributed between employees and employers.

FUTA Tax

A United States federal tax levied on employers to fund state workforce agencies and unemployment benefits.