Question

Wages and other economic benefits represent income to employees, costs to an employer, and a basis for tax revenue to the government.

a. True
b. False

Answer 1

True. Wages and economic benefits represent income to employees, costs to an employer, and tax revenue for the government.

Step-by-step explanation:

True. Wages and other economic benefits represent income to employees, costs to an employer, and a basis for tax revenue to the government. For employees, wages and economic benefits are a source of income that they receive in exchange for their labor. For employers, wages and economic benefits are considered costs because they are expenses associated with hiring and retaining employees. Lastly, governments collect taxes on wages and economic benefits as a source of revenue to fund government programs and expenditures.