the part of revenue paid out as _______ for the services rendered by land ??
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Answer:
Rent
Explanation:
The revenue which a piece of land earns is known as rent.
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The part of the revenue is paid out as rent for the services rendered by land.
- The land is considered one of the four main factors of production. It is a fixed asset and is also a long term asset. A business can either own the land by investing in it as a fixed asset or can rent it in a lease.
- The remuneration paid for the services rendered by land is rent. It is paid to the owner of the land which can be either the business, partner or the sole proprietor.
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