Which of the Following Statements Is False

question 86

Multiple Choice

Which of the following statements is false?

• A) Until the Civil War, the federal government was the major issuer of paper money.
• B) In order for traders in early economies to accept or barter for items, the supply of the item had to be limited in relation to the desire of individual in the economy to have the item.
• C) Collectors of old coins and paper money are referred to as numismatists.
• D) Money functions as a store of value.

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Definitions:

Cost Driver

A factor that causes a change in the cost of an activity or a product, such as production volume or labor hours.

Activity-based Costing

A methodology that assigns production costs to products based on the activities required to produce them, aiming for more accurate cost allocation.

Volume-based

A pricing or costing method that changes based on the amount of goods or services produced or sold.

Non-volume-based

Refers to costing methods that allocate costs based on factors other than the volume of production, such as time or complexity.