The M1 money stock includes A. only assets that can be used as medium of exchange. B. only currency in circulation. C. certificates of deposit at all depository institutions. D. only checkable deposits at banks.

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above