Which of the Following Statements Correctly Identifies an Advantage of Checking

question 57

Multiple Choice

Which of the following statements correctly identifies an advantage of checking accounts over cash?​

• A)​Checks are more convenient to use for day to day transactions.
• B)​Checks are accepted by almost all sellers while cash may not be accepted.
• C)​Checks are more liquid than cash.
• D)​Lost or stolen checks cannot be used unless they have the account holder's signature.

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Definitions:

Absorption Costing Income

The profit figure calculated under absorption costing, including all costs of production – both fixed and variable – in product costs, affecting reported income.

Overproduction

The production of goods in quantities exceeding the demand, often leading to excess inventory and potential financial losses.

Evaluating

The process of assessing or examining something with the possible intent of instituting change based on that assessment.

Unit Costs

The cost incurred to produce, store, and sell one unit of a product, calculated by dividing the total costs by the number of units produced.