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:

Purchase Returns

Goods returned by the buyer to the supplier usually due to defects or quality issues, sometimes leading to a refund or credit.

Sales Salary Expense

The total amount of salary and wages paid to employees involved in the sales process, reflected as an expense on the income statement.

Departmental Gross Profit

The gross profit of a specific department within a store or company, calculated by subtracting the cost of goods sold in that department from its sales revenue.

Assets

Properties (resources) of value owned by a business (cash, supplies, equipment, land).