Which Is Not a Function of Money

question 1

Multiple Choice

Which is not a function of money?

• A)to serve as a store of value
• B)to serve as a unit of account
• C)to serve as a means for barter
• D)to serve as a means of payment

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Definitions:

Materials Price Variance

The discrepancy between the real expense of direct materials employed in manufacturing and the anticipated standard expense for those materials.

Materials Quantity Variance

The difference between the budgeted and actual quantities of materials used in production, affecting cost management.

Standard Cost

A predetermined cost of manufacturing, calculated based on the expected costs of material, labor, and overhead for a unit of product.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost, reflecting changes in material prices.