Which of the Following Is Not an Example of Money

question 90

Multiple Choice

Which of the following is not an example of money used as a unit of account?

• A) A British pound is worth $3.00.
• B) Auto repairs were $3,000 last year.
• C) Business travel totaled 12,000 miles.
• D) Gasoline sells for $1.20 per gallon and oil is $5.00 per quart.

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Definitions:

Alphabetical Order

A method of organizing items based on the sequence of the letters in their names from A to Z.

Largest Dollar Amounts

Refers to the items or transactions within a financial statement or budget that have the highest monetary value.

Accounting Equation

The accounting equation is a foundational principle of accounting, stating that assets equal liabilities plus owner's equity, serving as the basis for double-entry bookkeeping.

Rent for Equipment

The cost incurred for borrowing equipment necessary for the operations of a business or project.