A detailed description of the money your business makes and expends every month for the first year is called a (n) A cash-flow statement. B income statement. C balance statement. D bank statement.

Highlight four ways of improving productivity of labour as a factor of production

Scoresby Co. uses 6 machine hours and 2 direct labor hours to produce Product X. It uses 8 machine hours and 16 direct labor hours to produce Product Y.

The basic difference between macroeconomics and microeconomics is: A. microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade. B.

Businesses may not use false statements to convince you to buy a product. a. True b. False

Assuming that bus travel is an inferior good, an increase in consumer income, other things being equal, will cause a. an upward movement along the demand curve for bus travel. b. a downward movement along the demand curve for bus travel. c.

Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the

It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false

Which of the following actions differentiates an entrepreneur from other small business owners?

Mccoo Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $1.50 per direct labor-hour.

Which of the following is true of Finished Goods Inventory? A. Finished Goods Inventory is an account used by a manufacturer and includes completed goods that have not yet been sold. B.