An Antique Was Originally Purchased 50 Years Ago for $2

question 16

Multiple Choice

An antique was originally purchased 50 years ago for $2 and today is worth $600. What is the approximate rate of return realized on the sale of this antique?

• A)23 percent
• B)12. percent
• C)21. percent
• D)13 percent

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Definitions:

Standard Costs

Standard costs refer to the predetermined costs associated with manufacturing a product or providing a service, serving as a benchmark for assessing performance.

Shared Service Units

Internal service providers within an organization that offer their services to various departments, aiming to improve efficiency and reduce costs by centralizing support functions.

Centralised Service Units

Departments or groups within an organization that provide essential services or support to other parts of the organization from a single, centralized location.

Responsibility Accounting System

A system of accounting that segments financial data by areas of responsibility, aiding in performance evaluation and control.