Checks Are Not Money Because They

question 314

Multiple Choice

Checks are not money because they

• A)are just instruments to transfer money between banks.
• B)are not guaranteed by banks.
• C)can bounce when there are not enough funds to cash them.
• D)are not issued by the government.
• E)are not always accepted when trying to purchase goods or services.

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Definitions:

Labor Cost

The total amount of money paid for employee wages, benefits, and taxes by a business.

Variable Overhead Efficiency Variance

The difference between the actual and expected (or standard) use of variable overheads based on the actual activity levels.

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that varies directly with the level of production, such as utility costs for machinery.

Particular Product

Refers to a specific item or product line that a company manufactures or sells.