Which of the Following Is NOT One of the Three

question 69

Multiple Choice

Which of the following is NOT one of the three main components of Canada's money supply?

• A) time deposits
• B) demand deposits
• C) currency
• D) term deposits

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Definitions:

Labor Efficiency Variance

The difference between the actual labor hours used to produce a good or service and the standard labor hours expected to be used, measuring labor efficiency.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on activity levels.

Favorable

A term used in accounting and finance to describe outcomes or variances that are better than anticipated, indicating a positive performance against the budget or forecast.

Unfavorable

A term used to describe a variance or outcome that results in a worse financial position than expected or budgeted.