M1 Includes All the Following Items Except ________

question 473

Multiple Choice

M1 includes all the following items except ________.

• A) checking deposits owned by individuals and businesses
• B) traveler's checks
• C) deposits in money market mutual funds
• D) currency owned by individuals and businesses

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Definitions:

Cost of Goods Sold

Cost of Goods Sold (COGS) represents the direct costs attributable to the production of the goods sold in a company.

Finished Goods Inventory

The inventory of goods that are completed and ready for sale.

Goods Available

The total inventory that a company has ready for sale at the beginning of an accounting period, including both produced and acquired goods.

Raw Materials

Basic materials used in the production process to create goods and services.