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What Are the Five Functions of the Bank of Canada

question 12

Essay

What are the five functions of the Bank of Canada? Which one is most important?


Definitions:

Carrying Costs

The total costs associated with holding inventory, including warehousing, insurance, and loss from obsolescence.

Shortage Costs

Expenses incurred when demand exceeds supply, often leading to lost sales or higher production costs.

Weighted Average Delay

The average delay time for all items being processed, taking into account the proportion that each item contributes to the total amount.

Collection Delay

The time lag between when a payment is made by a customer and when the funds become available to the recipient company.

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