Vending Machines Are No Longer Limited by the Need for Cash

question 150

Multiple Choice

Vending machines are no longer limited by the need for cash. In Japan, South Korea, and the Philippines, consumers use mobile phones that transmit payments to vending machines wirelessly. This is an example of how vending machines can provide which type of utility?

• A) time
• B) place
• C) possession
• D) product
• E) form

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Definitions:

Accounts Receivable Clerks

Employees responsible for managing and tracking the money owed to a business by its debtors.

Total Wages

Represents the cumulative amount of wages paid to all employees over a specific time period.

Standard Cost Formula

A calculation method used to estimate the expected cost of production under normal conditions, including direct materials, labor, and overhead costs.

Total Cost

The complete cost of production, including both fixed and variable costs.