Introduction of Checks into the Payments System Reduced the Costs

question 70

Multiple Choice

Introduction of checks into the payments system reduced the costs of exchanging goods and services. Another advantage of checks is that

• A) they provide convenient receipts for purchases.
• B) they can never be stolen.
• C) they are more widely accepted than currency.
• D) the funds from a deposited check are available for use immediately.

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Definitions:

Direct Materials Cost

The expense associated with raw materials that can be directly traced to the production of a specific good.

Company's Stock Performance

An evaluation of how the shares of a particular company have traded in the stock market, affecting investor sentiment and value.

Managerial Information

Pertains to the tailored data and reports designed to assist managers in making specific decisions to achieve organizational objectives.

Long-Term Planning

The process of setting goals and outlining strategies over an extended period, typically over years or decades, to achieve sustained growth.