Which of the following is NOT true about the durability of money?
a. The average dollar bill is in circulation for three years.
b. Coins make the paper money more divisible.
c. Whatever is used cannot act effectively as a store of value if it does not last.
d. Paper money maximizes portability.
e. Paper money and coins are very durable; they last a long time.
a. The average dollar bill is in circulation for three years.
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Audit sampling implies the gathering of evidence to use as a basis for making valid inferences about the characteristics of the population as a whole without examining every transaction
a. True b. False Indicate whether the statement is true or false
Overhead costs allocated to divisions from corporate levels should be incorporated in the computation of the transfer price
Indicate whether the statement is true or false
On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available:Beginning inventory, January 1: $5800Net sales: $87,000Net purchases: $85,000The company's gross margin ratio is 30%. Using the gross profit method, the estimated ending inventory value would be:
A. $25,500. B. $26,100. C. $60,900. D. $90,800. E. $29,900.
Answer the following statement(s) true (T) or false (F)
1. When a large group of customers has similar needs for a product the market segmentation approach to marketing strategy is most appropriate. 2. Rolls Royce uses the concentration approach to focus on a distinct market segment. 3. General Motors uses a concentration approach to marketing strategy. 4. Demographic segmentation divides a market into personal characteristics such as age, income, sex, and education. 5. The median age of the U.S. population is getting older.