Payments that a firm makes to obtain needed resources comprise its
A)costs.
B)profits.
C)capital.
D)revenues.

Question

Quizplus · Accepted Answer

Payments made by a firm to obtain the resources necessary for its operation are referred to as its costs. These can include payments for raw materials, labor, rent, and utilities, among other things. Profits are what the firm earns after subtracting its costs from its revenues, capital refers to the financial assets needed for the firm to operate, and revenues are the total income generated from normal business operations.

Payments That a Firm Makes to Obtain Needed Resources Comprise