Which of the Following Statements Is False

question 35

Multiple Choice

Which of the following statements is false ?

• A) Round stones with holes in the center can serve as money.
• B) Money eases the process of exchanging goods and services in a modern economy.
• C) Money serves as a measure of value only when it is backed by gold or silver.
• D) Money is used as a measure of the relative value of goods and services in an economy.

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Definitions:

Costs Added

An increase in the total costs resulting from an action or decision, encompassing both direct and indirect expenses.

Conversion Costs

The combined costs of direct labor and manufacturing overhead incurred to convert raw materials into finished goods.

Welding Department

A specialized division within a manufacturing or fabrication entity focusing on welding-related tasks and operations.

Cost Reconciliation Report

A financial report that reconciles the total costs incurred with the costs charged to specific jobs or processes.