Which of the Following Statements Is True of a Barter

question 89

Multiple Choice

Which of the following statements is true of a barter system?

• A)In a barter system,it is difficult to keep track of the relative values of goods and services.
• B)In a barter system,an individual offers money to import goods and services.
• C)In a barter system,an individual offers currency notes to get coins.
• D)In a barter system,different kinds of money are exchanged for one another.
• E)In a barter system,individuals are self-sufficient.

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Definitions:

Unfavorable Effect

A situation or outcome in financial analysis or performance metrics where actual results are worse than planned or expected results.

Variances

Discrepancies between planned financial outcomes and the actual results, used in budgeting and accounting to analyze and control costs.

Quantity Variance

A variance that is computed by taking the difference between the actual quantity of the input used and the amount of the input that should have been used for the actual level of output and multiplying the result by the standard price of the input.

Standard Quantity

This refers to the predefined amount of materials or labor deemed necessary to produce a single unit of a product under normal operations.