______ Utility Is Created When the Business Firm Converts Raw

question 156

Multiple Choice

______ utility is created when the business firm converts raw materials into finished goods and services.

• A) Place
• B) Exchange
• C) Ownership
• D) Form

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Definitions:

Drawer

The maker of a draft.

Drawee

The party, typically a bank or financial institution, upon whom a cheque or draft is drawn and is responsible for paying the specified amount to the holder or bearer of the instrument.

Payees

Individuals or entities to whom money is to be paid or is owed.

Discrepancy

A lack of compatibility or similarity between two or more facts, figures, or findings leading to a deviation from what is expected or agreed upon.